Faithorn, MI is a small town located in Michigan, offering a peaceful and relaxed environment. Despite its size, there are several great businesses that can be found in Faithorn such as American Family Insurance, Walgreens Pharmacy, and The UPS Store. A two-bedroom rent in Faithorn costs $840 while the same amount in the US costs $1,430. The grocery cost index in Faithorn is 93 while it is 100 throughout the United States on average. Overall, Faithorn has lower rental prices and food costs compared to other areas of the US making it an attractive option for those looking for a more affordable place to live without compromising quality of life.
Faithorn has an unemployment rate of 4.7%. The US average is 6.0%.
Faithorn has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 14.7%, which is lower than the US average of 33.5%.
Tax Rates for Faithorn
- The Sales Tax Rate for Faithorn is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Faithorn 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 Faithorn
- The average income of a Faithorn resident is $23,912 a year. The US average is $28,555 a year.
- The Median household income of a Faithorn resident is $65,000 a year. The US average is $69,021 a year.