Rochester, MI is a vibrant city located in Oakland County and is part of the Metro Detroit metropolitan area. It is home to several large businesses such as DTE Energy, Flagstar Bank, and Quicken Loans. The cost of living in Rochester is slightly higher than the US average, with the 2 bedroom rent being around $1,570 compared to the US average of $1,430. Additionally, the Grocery Cost Index is also 100 in Rochester versus 100 in the US. There are plenty of amenities and activities for residents to enjoy in Rochester such as shopping centers and parks as well as many small businesses which provide an array of services.
Rochester has an unemployment rate of 3.5%. The US average is 6.0%.
Rochester has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Rochester
- The Sales Tax Rate for Rochester is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Rochester 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 Rochester
- The average income of a Rochester resident is $43,324 a year. The US average is $28,555 a year.
- The Median household income of a Rochester resident is $100,021 a year. The US average is $69,021 a year.