Arenac, MI is a small town nestled in the heart of Michigan. It is known for its charming atmosphere and unique local businesses. Some of these businesses include the Arenac County Economic Development Corporation, Arenac County Community Services, and the Arenac County Planning & Zoning Commission. The cost of living in Arenac is quite affordable; with 2 bedroom rent being $780 compared to the US average of $1,430 and a grocery cost index of 90 versus 100 in the US, it makes it an attractive option for anyone looking to save on expenses.
Arenac has an unemployment rate of 9.3%. The US average is 6.0%.
Arenac has seen the job market decrease by -7.6% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Arenac
- The Sales Tax Rate for Arenac is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Arenac 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 Arenac
- The average income of a Arenac resident is $25,085 a year. The US average is $37,638 a year.
- The Median household income of a Arenac resident is $48,333 a year. The US average is $69,021 a year.