48235 Detroit, MI is a great place to live. It's 2 Bedroom Rent is $1,150, which is significantly lower than the US average of $1,430. In addition, the Grocery Cost Index in 48235 is 90 versus 100 in the US. The cost of living here is quite affordable.
The local economy in 48235 Detroit, MI has plenty of opportunities for employment. Notable companies based in this area include Little Caesars Pizza, DTE Energy Company, and American Axle & Manufacturing Inc., all of which are important players in Detroit’s economy. Furthermore, many tech startups are popping up in this neighborhood as well as small businesses such as cafes and other independent shops.
Detroit (zip 48235) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48235) has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Detroit (zip 48235)
- The Sales Tax Rate for Detroit (zip 48235) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48235) is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Detroit (zip 48235)
- The average income of a Detroit (zip 48235) resident is $16,351 a year. The US average is $28,555 a year.
- The Median household income of a Detroit (zip 48235) resident is $36,219 a year. The US average is $69,021 a year.