Peaine, MI is a rural community located in Michigan's Upper Peninsula. It is known for its beautiful beaches and for the numerous local businesses that support its residents. The cost of living in Peaine is relatively low compared to the national average. For example, the 2 bedroom rent in Peaine is $870, which is much lower than the US average of $1,430. Additionally, grocery costs index in Peaine are 96, whereas the national rate stands at 100.
There are many local businesses in Peaine that help support the community and economy. Examples include Green Stone Farm Credit Services, Northern Michigan Lumber Company, McLean's Ace Hardware & Rental Center, and Ponshewaing Store & Deli. These companies provide a variety of services to the citizens of Peaine and help make it a great place to live.
Peaine has an unemployment rate of 6.7%. The US average is 6.0%.
Peaine 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 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Peaine
- The Sales Tax Rate for Peaine is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Peaine 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 Peaine
- The average income of a Peaine resident is $29,819 a year. The US average is $28,555 a year.
- The Median household income of a Peaine resident is $61,875 a year. The US average is $69,021 a year.