Grand Rapids, OH is a small city located in the northwest corner of Ohio. It has a population of around 8,000 people and offers plenty of attractions for those looking for an escape from more urban areas. Grand Rapids is home to several large companies, such as Whirlpool Corporation and Cascade Engineering Inc., that contribute to the economy of the town. The median income for local citizens is around $36,000 per year which is slightly lower than the national average. Grand Rapids also boasts a low cost of living compared to other cities in the area with 2 bedroom rent at only $880 compared to the US average of $1,430. Grocery costs are also relatively low compared to other places with a grocery cost index being 94 versus 100 in the US. With plenty of job opportunities and activities available to residents and visitors alike, Grand Rapids provides an affordable way to enjoy city life without all the hustle and bustle.
Grand Rapids has an unemployment rate of 4.2%. The US average is 6.0%.
Grand Rapids has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 26.3%, which is lower than the US average of 33.5%.
Tax Rates for Grand Rapids
- The Sales Tax Rate for Grand Rapids is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids is 4.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Grand Rapids
- The average income of a Grand Rapids resident is $26,571 a year. The US average is $28,555 a year.
- The Median household income of a Grand Rapids resident is $58,472 a year. The US average is $69,021 a year.