New Buffalo township, MI Economy


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New Buffalo Township, MI is an amazing place to live with its low cost of living, access to great shops and local businesses. The rent for a two bedroom apartment in New Buffalo Township is only $1,010 - much lower than the US average of $1,430. This makes it an ideal location for those looking to save money and still have access to great amenities. Popular businesses located in New Buffalo Township include Walgreens Pharmacy and Red Arrow Highway Bar & Grill. The Grocery Cost Index in New Buffalo Township is highly competitive at 99 compared to the US average of 100. With such low costs of living and thriving local business environment, New Buffalo Township is a perfect place to live and work!

New Buffalo township has an unemployment rate of 5.8%. The US average is 6.0%.

New Buffalo township has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 25.4%, which is lower than the US average of 33.5%.

Tax Rates for New Buffalo township
- The Sales Tax Rate for New Buffalo township is 6.0%. The US average is 7.3%.
- The Income Tax Rate for New Buffalo township 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 New Buffalo township
- The average income of a New Buffalo township resident is $43,950 a year. The US average is $28,555 a year.
- The Median household income of a New Buffalo township resident is $76,058 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyNew Buffalo township, MichiganUnited States
  5.86
  -6.5%-6.2%
  25.4%33.5%
  6.0%6.2%
  4.3%4.6%
  $65,378$37,638
  $76,058$69,021
  $110,417$85,028
  Population by Occupation
  0.6%1.2%
  0.0%0.5%
  12.3%6.8%
  11.9%10.0%
  3.3%2.5%
  5.5%11.0%
  1.6%4.8%
  1.7%0.8%
  0.3%1.9%
  3.8%4.7%
  4.6%1.9%
  11.1%7.6%
  0.2%0.1%
  3.7%4.2%
  12.8%9.3%
  11.6%14.0%
  2.3%2.1%
  6.5%7.0%
  3.6%4.8%
  2.5%4.7%
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