Spring Lake, MI is a charming small town located on the eastern shore of Lake Michigan. It offers a peaceful and relaxed atmosphere, with plenty of outdoor activities such as fishing, swimming, boating, and skiing. The cost of living is relatively low in Spring Lake, with 2-bedroom rents being $1,120 compared to the national average of $1,430. Grocery costs are similarly affordable with a Grocery Cost Index of 98 compared to the US average of 100. This makes it an attractive option for those looking for an affordable place to live and work. Local companies in Spring Lake include Spring Meadow Farms Organic Market and The Beach House Restaurant & Dock Bar. Both offer high-quality services and products that locals can enjoy.
Spring Lake has an unemployment rate of 4.3%. The US average is 6.0%.
Spring Lake has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Spring Lake
- The Sales Tax Rate for Spring Lake is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Spring Lake 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 Spring Lake
- The average income of a Spring Lake resident is $32,798 a year. The US average is $28,555 a year.
- The Median household income of a Spring Lake resident is $64,700 a year. The US average is $69,021 a year.