Michigan City, IN is a small city located on the shores of Lake Michigan. The cost of living is lower than the US average, with 2-bedroom rent being $930 compared to $1,430 nationally. Additionally, the Grocery Cost Index for Michigan City is 92 versus 100 in the US. This makes Michigan City an attractive option for those who want to live close to the beach while keeping their expenses low.
Businesses are plentiful in and around Michigan City. Some of the local companies that call Michigan City home include BP America Inc., NiSource Inc., Four Winds Casino Resort, and Wolf Steel Ltd. All of these companies offer employment opportunities and contribute to the economy of the city.
Michigan City has an unemployment rate of 8.2%. The US average is 6.0%.
Michigan City has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 22.4%, which is lower than the US average of 33.5%.
Tax Rates for Michigan City
- The Sales Tax Rate for Michigan City is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Michigan City is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Michigan City
- The average income of a Michigan City resident is $18,990 a year. The US average is $28,555 a year.
- The Median household income of a Michigan City resident is $47,197 a year. The US average is $69,021 a year.