Frankfort, MI is a charming city located in Michigan. The cost of living is quite affordable, with a two-bedroom rent of $1,040 and grocery cost index of 97 compared to the US average of 100. There are plenty of local businesses to support the community, such as Frankfort Hardware & Supply Co., Frankfort Marine, and Crystal Lake Golf Club to name a few. With its close proximity to Lake Michigan and many outdoor activities available nearby, Frankfort is an ideal place for families and nature lovers alike.
Frankfort has an unemployment rate of 6.9%. The US average is 6.0%.
Frankfort has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Frankfort
- The Sales Tax Rate for Frankfort is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Frankfort 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 Frankfort
- The average income of a Frankfort resident is $36,081 a year. The US average is $37,638 a year.
- The Median household income of a Frankfort resident is $46,964 a year. The US average is $69,021 a year.