Portland, MI is a small city located in the state of Michigan. It has a population of around 5,000 people and is known for its affordable living costs. The average two-bedroom rent in Portland is $1,150, much lower than the national average of $1,430. Additionally, grocery cost index in Portland is 95 compared to the US index of 100. This makes it an attractive destination for those looking for a way to stretch their budget further.
The local economy in Portland relies heavily on businesses like Hagan Wood Products, Grand Rapids Moulding & Millwork Company, and Lumber Supply Co to create jobs and provide essential services to the community. These companies specialize in woodworking products and services and have been part of the town’s economy for over two decades. Other major employers include Portland Community Schools and Bronson Methodist Hospital which both offer excellent job opportunities with competitive wages. With such a well-rounded economy providing plenty of employment options, it's no wonder why so many have chosen to call Portland home.
Portland has an unemployment rate of 4.7%. The US average is 6.0%.
Portland has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 32.3%, which is lower than the US average of 33.5%.
Tax Rates for Portland
- The Sales Tax Rate for Portland is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Portland is 5.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Portland
- The average income of a Portland resident is $30,147 a year. The US average is $37,638 a year.
- The Median household income of a Portland resident is $64,265 a year. The US average is $69,021 a year.