Montmorency, MI is a small town with lots to offer its residents. The city has affordable housing, with the average two-bedroom rent being $830; this is significantly lower than the national average of $1,430. The cost of groceries in Montmorency, MI is also very low compared to the rest of the country, with a grocery cost index of 91 versus 100 in the US. Local businesses in town include small family owned stores like Elser Hardware and Biggies Supermarket, as well as larger outlets such as Wal-Mart and Meijer's. There are plenty of services available too such as auto repair shops, banks, churches and restaurants.
Montmorency has an unemployment rate of 10.2%. The US average is 6.0%.
Montmorency 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 13.9%, which is lower than the US average of 33.5%.
Tax Rates for Montmorency
- The Sales Tax Rate for Montmorency is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Montmorency 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 Montmorency
- The average income of a Montmorency resident is $29,187 a year. The US average is $37,638 a year.
- The Median household income of a Montmorency resident is $60,043 a year. The US average is $69,021 a year.