Sherwood, MI is a small city located in Michigan with a population of approximately 400 people. This small town is situated in St. Clair County, about 40 miles from Detroit. With low population density, Sherwood is a great place to live if you're looking for a peaceful environment. The 2 bedroom rent in Sherwood is only $850 which is much lower than the US average of $1430 and it also has a grocery cost index of 91 versus 100 in the US making it an ideal place to live for people who are looking for a cheaper cost of living. There are many local businesses in Sherwood such as Alpine Motors, Empire Gardens Florist, Schaeffer's Furniture Store and much more where you can get everything from food to furniture at reasonable prices. All in all, Sherwood, MI makes for an ideal place to live due to its affordable cost of living and peaceful atmosphere that it offers its residents.
Sherwood has an unemployment rate of 5.0%. The US average is 6.0%.
Sherwood has seen the job market increase by 0.5% 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 Sherwood
- The Sales Tax Rate for Sherwood is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Sherwood 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 Sherwood
- The average income of a Sherwood resident is $15,348 a year. The US average is $28,555 a year.
- The Median household income of a Sherwood resident is $47,961 a year. The US average is $69,021 a year.