Beechwood, MI is a great place to live. It has a cost of living that is lower than the national average, making it an affordable option for many people. The rent for a two bedroom apartment is $1,170 per month compared to around $1,430 in other parts of the US. Similarly, the grocery cost index in Beechwood is 97 compared to 100 nationally.
The city of Beechwood also has several local companies offering a variety of services. Businesses such as Olive Tree Grocery and The Green Leaf Cafe provide grocery stores and cafes respectively for locals, while General Motors offers automotive expertise with their large global presence in the area. There are also numerous health care providers such as Beechwood Hospital and Spear Health Clinic that offer quality medical care to residents of Beechwood.
Beechwood has an unemployment rate of 4.3%. The US average is 6.0%.
Beechwood has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Beechwood
- The Sales Tax Rate for Beechwood is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Beechwood 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 Beechwood
- The average income of a Beechwood resident is $34,703 a year. The US average is $37,638 a year.
- The Median household income of a Beechwood resident is $53,589 a year. The US average is $69,021 a year.