Dearborn, MI is a thriving city located in Wayne County. It has become an attractive destination for businesses, with well-known companies such as Ford Motor Company and Johnson Controls having a presence in the city. Additionally, Dearborn is home to many other businesses such as United Shore Financial Services, GalaxE Solutions, and MLC Automotive. The cost of living in Dearborn is relatively affordable compared to other cities in the US. For example, two bedroom rental costs are $1,340 which is lower than the national average of $1,430. Similarly, the grocery cost index in Dearborn is 95 compared to 100 nationwide. This makes it easier for residents to get their basic items at an affordable price without sacrificing quality or selection.
Dearborn has an unemployment rate of 3.6%. The US average is 6.0%.
Dearborn 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 37.3%, which is higher than the US average of 33.5%.
Tax Rates for Dearborn
- The Sales Tax Rate for Dearborn is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Dearborn 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 Dearborn
- The average income of a Dearborn resident is $21,311 a year. The US average is $28,555 a year.
- The Median household income of a Dearborn resident is $60,184 a year. The US average is $69,021 a year.