Morenci, MI is a small city located in Lenawee County. It is an ideal place to live for those looking for affordable housing as the average rent for a 2 bedroom apartment is $910 compared to the US average of $1,430. Groceries are also more affordable with the Grocery Cost Index in Morenci being 92 versus 100 in the US on average. The city of Morenci has several local businesses such as Morenci Fabricators, PPG Industries, and Johnson Controls that offer employment opportunities. There is also a population of 4,742 people living in Morenci according to the 2019 census data.
Morenci has an unemployment rate of 5.5%. The US average is 6.0%.
Morenci has seen the job market decrease by -7.2% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Morenci
- The Sales Tax Rate for Morenci is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Morenci 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 Morenci
- The average income of a Morenci resident is $24,384 a year. The US average is $37,638 a year.
- The Median household income of a Morenci resident is $42,246 a year. The US average is $69,021 a year.