Fife Lake, MI is a small town in the northern part of the state. It is surrounded by forests and lakes, making it an attractive place to live for those who enjoy outdoor activities. With a population of just over 1,000 people, Fife Lake is a quiet community where residents can enjoy a slower pace of life. Residents here benefit from low housing costs with a two bedroom rent averaging around $850 per month. The local grocery cost index is also lower than the national average at 91 versus 100 in the US.
Fife Lake has several local businesses that offer services and goods to its residents including Bridgman's Home Center and Feed Store, Valley Hardware & Outdoor Equipment Co., Reichert's Market, Cornerstone Restaurant, Fife Lake Bar & Grill, and Bayside Resort on Pine Lake. There are also several churches within town such as Fife Lake United Methodist Church and St. Mark Lutheran Church. In addition to all of the amenities in town, Fife Lake is conveniently located near Traverse City and Cadillac which offer even more shopping opportunities and entertainment options.
Fife Lake has an unemployment rate of 5.7%. The US average is 6.0%.
Fife Lake has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 34.7%, which is higher than the US average of 33.5%.
Tax Rates for Fife Lake
- The Sales Tax Rate for Fife Lake is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Fife Lake 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 Fife Lake
- The average income of a Fife Lake resident is $23,916 a year. The US average is $28,555 a year.
- The Median household income of a Fife Lake resident is $60,625 a year. The US average is $69,021 a year.