Bay City, MI is a thriving city situated on the shores of Lake Huron. The cost of living in Bay City is considerably lower than the national average, with rental prices for two bedroom apartments being nearly half of the US median at $880. Similarly, the Grocery Cost Index in Bay City is 89 compared to 100 nationally. This makes it an attractive place to live for families on a budget.
In addition to its low cost of living, Bay City offers many attractions and businesses. For those who enjoy outdoor activities, there are numerous parks and beaches as well as boat access points located along the Saginaw River and Lake Huron. Other popular local attractions include The Dow Museum of Science & Art, Delta College Planetarium & Learning Center, Saganing Eagles Landing Casino & Hotel, and the historic Liberty Bridge overlooking downtown Bay City. Businesses such as McLaren Medical Group and Wenona Technology Solutions also call Bay City home.
Bay City has an unemployment rate of 8.2%. The US average is 6.0%.
Bay City has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 16.2%, which is lower than the US average of 33.5%.
Tax Rates for Bay City
- The Sales Tax Rate for Bay City is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Bay City is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bay City
- The average income of a Bay City resident is $19,616 a year. The US average is $28,555 a year.
- The Median household income of a Bay City resident is $41,959 a year. The US average is $69,021 a year.