Byron, MI is a small city located in Shiawassee County, Michigan. It has a population of 2,816 people according to the 2019 census. The cost of living in Byron is less than the national average, with the median rent for a two-bedroom unit costing $1,010 compared to the national average of $1,430. Additionally, the Grocery Cost Index in Byron is 95 versus 100 at the national level. This trend extends into local businesses as well. For instance, there are local stores such as Byrons One Stop Shop and Byrons Skateland that offer lower prices than many larger retailers in other cities. All in all, Byron is an attractive option for those who need affordable housing and services without sacrificing quality.
Byron has an unemployment rate of 5.6%. The US average is 6.0%.
Byron has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Byron
- The Sales Tax Rate for Byron is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Byron 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 Byron
- The average income of a Byron resident is $18,697 a year. The US average is $28,555 a year.
- The Median household income of a Byron resident is $69,625 a year. The US average is $69,021 a year.