Inwood, MI is a small town located in the state of Michigan. It's known for its friendly atmosphere and local businesses. Popular companies in Inwood include Walmart, McDonalds, Burger King, AutoZone and more. The cost of living in Inwood is very affordable compared to other parts of the United States as the 2 Bedroom Rent is $810 per month and the Grocery Cost Index is 93 versus 100 in the US. The overall cost of living index in Inwood is relatively low which can be beneficial to those who want to live life comfortably without breaking the bank.
Inwood has an unemployment rate of 8.9%. The US average is 6.0%.
Inwood 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 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Inwood
- The Sales Tax Rate for Inwood is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Inwood 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 Inwood
- The average income of a Inwood resident is $20,631 a year. The US average is $28,555 a year.
- The Median household income of a Inwood resident is $56,188 a year. The US average is $69,021 a year.