Bay, MI is a great place to live with an affordable rent cost. On average, 2 bedroom rent in Bay, MI is $920 compared to the United States average of $1,430. Additionally, grocery cost index in Bay, MI is 95 versus 100 in the US making it an even more attractive place to live. The city has many local companies providing jobs and services such as Bay Lumber & Supply Company, Bay Auto Parts Inc., and Bay Regional Medical Center. These local companies also help provide stability to the city by allowing residents to find good employment close to home.
Bay has an unemployment rate of 6.7%. The US average is 6.0%.
Bay has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Bay
- The Sales Tax Rate for Bay is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Bay 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 Bay
- The average income of a Bay resident is $30,969 a year. The US average is $28,555 a year.
- The Median household income of a Bay resident is $76,932 a year. The US average is $69,021 a year.