Inverness, MI is a small city situated in Michigan and has a great deal to offer its residents. The cost of living is lower than the US average due to factors such as lower rent rates for 2-bedroom dwellings which is $900 compared to the US average of $1,430. Additionally, Inverness' Grocery Cost Index is only 91 versus 100 in the US on average. Thus, residents are able to stretch their dollar further while still enjoying all that Inverness has to offer. Companies such as Castle Muffler & Brake Shops, Quality Care Services, and Security Alarm Systems help keep Inverness running smoothly. Overall, living in Inverness is an affordable alternative compared to many other cities around the country making it an ideal place for those on a budget.
Inverness has an unemployment rate of 13.1%. The US average is 6.0%.
Inverness has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 17.5%, which is lower than the US average of 33.5%.
Tax Rates for Inverness
- The Sales Tax Rate for Inverness is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Inverness 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 Inverness
- The average income of a Inverness resident is $25,180 a year. The US average is $28,555 a year.
- The Median household income of a Inverness resident is $49,000 a year. The US average is $69,021 a year.