Detroit, MI is an exciting city with much to offer its residents. The city offers a variety of affordable rental options with a two bedroom price average of $1,080, compared to the US average of $1,430. Additionally, the grocery cost index in Detroit is 89 versus 100 in the US, making it a very economical place to live. The city is home to numerous local companies such as Ford Motor Company and Detroit Medical Center while offering plenty of attractions for both locals and travelers alike. Popular tourist destinations include Comerica Park baseball stadium, Belle Isle State Park, the Riverwalk and countless art galleries and museums. Detroit has something for everyone!
Detroit has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit 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
- The Sales Tax Rate for Detroit is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit 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
- The average income of a Detroit resident is $14,984 a year. The US average is $28,555 a year.
- The Median household income of a Detroit resident is $34,762 a year. The US average is $69,021 a year.