Lodi, MI is a small community situated in south-central Michigan. It is known for its affordable housing and low cost of living. The average two bedroom rent in Lodi is $1,420 per month, which is slightly less than the national average. In addition to reasonable rent prices, Lodi also has a Grocery Cost Index that is 2% higher than the national average at 102 versus 100. This means groceries are still relatively inexpensive compared to other parts of the country.
Local businesses in Lodi range from farm stores and hardware outlets to family owned restaurants and specialty retailers. There's something for everyone! Major employers include Countryside Greenhouse & Garden Center, QualiSource Group, and A&P Hydraulics -- all great companies that serve the community well. The local economy relies heavily on tourism due to its proximity to Lake Michigan and numerous outdoor activities that attract visitors throughout the year. Residents have access to an array of job opportunities as well as quality education provided by the public school system in town. All in all, Lodi is an excellent place to live for those looking for an affordable lifestyle while not sacrificing quality amenities or employment opportunities
Lodi has an unemployment rate of 4.3%. The US average is 6.0%.
Lodi has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Lodi
- The Sales Tax Rate for Lodi is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lodi 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 Lodi
- The average income of a Lodi resident is $50,190 a year. The US average is $28,555 a year.
- The Median household income of a Lodi resident is $129,205 a year. The US average is $69,021 a year.