Ferndale, MI is an attractive suburb of Detroit located in Oakland County. The city offers affordable living with two bedroom apartments renting for $1,290 per month compared to the US average of $1,430. The cost of groceries in Ferndale is also lower than the US average at a cost index of 95 versus 100. This makes Ferndale ideal for people looking to save money while still enjoying the big city amenities. Local companies like Bosco Lounge and Two James Spirits provide unique professional opportunities and popular attractions such as George George Memorial Park and The Rust Belt Market give locals plenty of entertainment options. With its close proximity to Detroit, Ferndale is quickly becoming one of the most desirable suburbs in the state.
Ferndale has an unemployment rate of 3.8%. The US average is 6.0%.
Ferndale has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 36.5%, which is higher than the US average of 33.5%.
Tax Rates for Ferndale
- The Sales Tax Rate for Ferndale is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Ferndale 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 Ferndale
- The average income of a Ferndale resident is $29,656 a year. The US average is $28,555 a year.
- The Median household income of a Ferndale resident is $79,181 a year. The US average is $69,021 a year.