Carmel, MI is a great city offering affordable housing and cost of living. With a two bedroom rent typically costing around $970, it's significantly lower than the national average of $1,430. Additionally, the Grocery Cost Index in Carmel is 94 versus 100 in the US, making it an even more attractive option for those looking to save money. The city also has plenty of attractions and companies that make it an enjoyable place to live. Popular local companies include Avanti Senior Living, Chase Bank, and Best Buy. As for attractions, locals can enjoy the Indianapolis Motor Speedway Museum Park which features historical racing memorabilia or take a walk along the Monon Trail which stretches through beautiful parks.
Carmel has an unemployment rate of 4.9%. The US average is 6.0%.
Carmel has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Carmel
- The Sales Tax Rate for Carmel is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Carmel 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 Carmel
- The average income of a Carmel resident is $28,166 a year. The US average is $28,555 a year.
- The Median household income of a Carmel resident is $83,929 a year. The US average is $69,021 a year.