Oak Hill, MI is a great place to live for those who want to save money on rent and groceries without sacrificing quality of life. The average two-bedroom rent in Oak Hill is $920 compared to the national average of $1,430, making it an attractive place to live. Moreover, the Grocery Cost Index in Oak Hill is 92 compared to 100 nationally.
The town is home to several great employers such as DTE Energy, which provides electricity and gas services to more than 3 million people. There are also several manufacturing companies located in Oak Hill including Autocam Precision Components and Grant Steel Company. In addition, there are many local small businesses that offer unique goods and services for the community including Oak Hill Interiors and Honeycomb Floral & Event Design.
Oak Hill has an unemployment rate of 7.6%. The US average is 6.0%.
Oak Hill has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 22.6%, which is lower than the US average of 33.5%.
Tax Rates for Oak Hill
- The Sales Tax Rate for Oak Hill is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Oak Hill 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 Oak Hill
- The average income of a Oak Hill resident is $20,877 a year. The US average is $28,555 a year.
- The Median household income of a Oak Hill resident is $55,000 a year. The US average is $69,021 a year.