Buchanan Township, MI is a great place to live, work, and raise a family. With its affordability and close proximity to Detroit, it’s no wonder people are flocking to this city. The average 2 bedroom rent in Buchanan is $850 compared to the national average of $1,430. The grocery cost index in Buchanan Township is 91, which is lower than the US average of 100. Residents can enjoy local businesses like LJ's Market for fresh produce and meats or U-Brew for craft beer and soda. For those wanting more options there’s the nearby Lakeside Mall for some retail therapy. All of these factors make Buchanan Township an attractive place to live with a great cost of living.
Buchanan township has an unemployment rate of 5.8%. The US average is 6.0%.
Buchanan township has seen the job market decrease by -6.5% over the last year. Future job growth over the next ten years is predicted to be 25.4%, which is lower than the US average of 33.5%.
Tax Rates for Buchanan township
- The Sales Tax Rate for Buchanan township is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Buchanan township 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 Buchanan township
- The average income of a Buchanan township resident is $30,790 a year. The US average is $37,638 a year.
- The Median household income of a Buchanan township resident is $59,052 a year. The US average is $69,021 a year.