Menominee, MI is a city located in the Upper Peninsula of Michigan. The city offers many amenities for its residents. The cost of living in Menominee is much lower than the US average; the 2 bedroom rent is only $810 compared to the $1,430 US 2 Bedroom Rent average. The Grocery Cost Index is also lower at 91 compared to 100 in the US.
Menominee has a number of well-known companies, such as Carmeuse Lime & Stone, NEMTEC Manufacturing Company and Wawatam Lumber Co., Inc. These companies offer employment opportunities for local residents and contribute to the economy of Menominee.
Menominee has an unemployment rate of 4.7%. The US average is 6.0%.
Menominee 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 Menominee
- The Sales Tax Rate for Menominee is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Menominee 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 Menominee
- The average income of a Menominee resident is $21,181 a year. The US average is $28,555 a year.
- The Median household income of a Menominee resident is $44,750 a year. The US average is $69,021 a year.