Stephenson Township, MI is an attractive and affordable place to live. The average two bedroom rent in the area is only $850, far lower than the national average of $1,430. In addition to affordable housing costs, groceries are also quite inexpensive with a grocery cost index of 91 compared to 100 in the US.
The township is home to a number of local companies including Wolverine Power Systems, Stephenson National Bank & Trust, Stephenson County Abstract & Title Company, Besser Credit Union and Quality Co-op Services Inc. All these organizations provide valuable services and contribute to the local economy.
Stephenson township has an unemployment rate of 4.7%. The US average is 6.0%.
Stephenson township has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 14.7%, which is lower than the US average of 33.5%.
Tax Rates for Stephenson township
- The Sales Tax Rate for Stephenson township is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Stephenson township 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 Stephenson township
- The average income of a Stephenson township resident is $24,048 a year. The US average is $28,555 a year.
- The Median household income of a Stephenson township resident is $70,000 a year. The US average is $69,021 a year.