Kentwood, MI is situated in the southwestern part of Michigan. It has a population of just under 52,000 people, making it a great place to live for those who are looking for a smaller but still bustling community. In terms of housing costs, Kentwood stands out from other places as rent for two bedroom apartments come in at $1,210 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Kentwood is 96 compared to 100 in the US, meaning that food prices are slightly lower than the national average.
Some major employers located in Kentwood include GR Spring & Stamping Corporation and West Michigan Aviation Academy. The area also boasts numerous small businesses and restaurants such as Amore Trattoria Italiana and Mekong Express which help contribute to its local economy and culture.
While there are many advantages to living in Kentwood including its proximity to nearby cities like Grand Rapids and Kalamazoo, one of its biggest draws is its cost of living which is significantly less expensive than many other areas across Michigan. This makes it an attractive option for individuals or families who want to have access to all that a larger city has to offer while not breaking their budget on housing or groceries.
Kentwood has an unemployment rate of 4.5%. The US average is 6.0%.
Kentwood has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Kentwood
- The Sales Tax Rate for Kentwood is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Kentwood 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 Kentwood
- The average income of a Kentwood resident is $25,256 a year. The US average is $28,555 a year.
- The Median household income of a Kentwood resident is $60,505 a year. The US average is $69,021 a year.