Holmes, MI is a small town located in Northwest Michigan. The cost of living is significantly lower than the national average. Rent for a two bedroom apartment is $820 compared to the US average of $1,430 per month. Grocery costs are also much cheaper in Holmes with an index rating of 91 versus 100 across the US.
Holmes has many great local companies such as Holmes Hardware, Kline's Market and Bakery, and Johnson Home Builders that have been serving the community for generations. There are also several outdoor recreation options including hiking trails at State Street Park and nearby Lake Michigan beaches.
When comparing Holmes to other locations, it has a much lower cost of living making it ideal for those looking for a more affordable place to live while still having access to amenities like hardware stores, markets and home builders. Additionally, there are plenty of recreational activities available making it a great place to live or visit.
Holmes has an unemployment rate of 4.7%. The US average is 6.0%.
Holmes 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 Holmes
- The Sales Tax Rate for Holmes is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Holmes 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 Holmes
- The average income of a Holmes resident is $23,844 a year. The US average is $28,555 a year.
- The Median household income of a Holmes resident is $47,750 a year. The US average is $69,021 a year.