Lathrup Village, MI is an affluent suburb of Detroit located in Southfield. Despite its close proximity to the city, it provides a quieter and more peaceful environment than many of its neighboring cities. The median 2 bedroom rent in Lathrup Village is slightly higher than the national average ($1,470 per month versus $1,430 nationally), and the Grocery Cost Index in Lathrup Village is 97 versus 100 in the US. The city offers plenty of amenities for both residents and visitors alike. From local restaurants like Willy's Grill & Bar to larger companies such as Motor City Casino, there are plenty of places to explore in Lathrup Village. Other institutions include the Academy of Arts & Design and several parks located within the village. There are also plenty of festivals throughout the year that attract people from all over Michigan.
Lathrup Village has an unemployment rate of 3.5%. The US average is 6.0%.
Lathrup Village has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Lathrup Village
- The Sales Tax Rate for Lathrup Village is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lathrup Village 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 Lathrup Village
- The average income of a Lathrup Village resident is $35,096 a year. The US average is $28,555 a year.
- The Median household income of a Lathrup Village resident is $97,241 a year. The US average is $69,021 a year.