Fostoria, MI is a small town with plenty of local amenities and attractions. It boasts a low cost of living, with 2 bedroom rents at around $910 compared to the US average of $1,430. The grocery cost index in Fostoria is 90 versus 100 in the US. This makes it an affordable town to live in for many families. Notable companies based in Fostoria include Michigan Automotive Components Group, Novolex Holdings Inc., and Abonmarche Consultants. These companies provide work for the citizens of Fostoria and contribute to the local economy.
Fostoria has an unemployment rate of 6.3%. The US average is 6.0%.
Fostoria has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 18.0%, which is lower than the US average of 33.5%.
Tax Rates for Fostoria
- The Sales Tax Rate for Fostoria is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Fostoria 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 Fostoria
- The average income of a Fostoria resident is $19,235 a year. The US average is $28,555 a year.
- The Median household income of a Fostoria resident is $83,924 a year. The US average is $69,021 a year.