Detroit, IL is a vibrant city with an affordable cost of living. According to recent data, the average 2 bedroom rent in Detroit is $780 whereas the US average for 2 bedroom rent is $1,430. Additionally, the grocery cost index in Detroit is 93 compared to 100 in the US, making daily necessities more accessible. The city boasts many local companies such as Michigan Manufacturing Technology Center (MMTC), which provides resources and consulting services related to lean manufacturing; United Tax Service LLC offering tax preparation services; and Shoreline Plastics providing custom plastic injection molding services. In conclusion, Detroit, IL has an affordable living cost while still being able to provide access to numerous local businesses for its residents.
Detroit has an unemployment rate of 4.8%. The US average is 6.0%.
Detroit has seen the job market decrease by -6.2% over the last year. Future job growth over the next ten years is predicted to be 13.7%, which is lower than the US average of 33.5%.
Tax Rates for Detroit
- The Sales Tax Rate for Detroit is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Detroit is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Detroit
- The average income of a Detroit resident is $23,079 a year. The US average is $37,638 a year.
- The Median household income of a Detroit resident is $0 a year. The US average is $69,021 a year.