Palmyra, MI is an charming town in southeastern Michigan. It has a population of around 1,072 and offers its residents a calm and relaxed suburban lifestyle. As for cost of living, 2 bedroom rent in Palmyra is notably cheaper than the US average at $920 per month compared to $1,430. Furthermore, the Grocery Cost Index in Palmyra is 93 while it's 100 nationwide.
Some popular local companies include Palmyra Family Pharmacy, Southside Collision Center LLC, J & J Automotive Repair & Towing LLC, and Heartland Home Care & Hospice.
Palmyra has an unemployment rate of 5.5%. The US average is 6.0%.
Palmyra has seen the job market increase by 0.8% 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 Palmyra
- The Sales Tax Rate for Palmyra is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Palmyra 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 Palmyra
- The average income of a Palmyra resident is $22,405 a year. The US average is $28,555 a year.
- The Median household income of a Palmyra resident is $71,118 a year. The US average is $69,021 a year.