Newark, MI is a small city with an affordable cost of living. The average 2 bedroom apartment rent is only $820 compared to the US average of $1,430. Groceries are even less expensive in Newark, MI, with an index score of 91 versus 100 in the US. This makes it a great place for anyone looking to save money while still enjoying all that Michigan has to offer.
The city has various businesses ranging from major corporations such as Ciena and Stryker to smaller family owned establishments like Cafe Rico and Newark Sports Center. These businesses provide employment opportunities for residents as well as activities and entertainment for visitors. The town also offers several parks such as Lions Park and Bartlett Park which provide families with outdoor recreational activities.
Living in Newark, MI has many advantages including its lower cost of living compared to other parts of the state and its close-knit community feel. With plenty of employment opportunities, recreational activities and a friendly atmosphere, Newark is a great place to live for anyone looking for an affordable home without sacrificing quality living.
Newark has an unemployment rate of 5.6%. The US average is 6.0%.
Newark has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Newark
- The Sales Tax Rate for Newark is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Newark 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 Newark
- The average income of a Newark resident is $24,715 a year. The US average is $28,555 a year.
- The Median household income of a Newark resident is $78,056 a year. The US average is $69,021 a year.