Cambridge, MI is a small town located in the lower peninsula of Michigan. The town offers an affordable cost of living with an average 2 bedroom rent costing only $930. This is significantly cheaper than the national average which is $1,430 for a two bedroom rental. Additionally, Cambridge is known for its low grocery cost index of 95 compared to the US average of 100. Residents benefit from the short commute to larger cities such as Grand Rapids and Lansing. Other major companies located in Cambridge include Meijer, Walmart, Advance Auto Parts, and KFC – providing residents with ample job opportunities. Overall, Cambridge is an affordable place to live that provides many amenities for its residents.
Cambridge has an unemployment rate of 5.5%. The US average is 6.0%.
Cambridge 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 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Cambridge
- The Sales Tax Rate for Cambridge is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cambridge 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 Cambridge
- The average income of a Cambridge resident is $41,852 a year. The US average is $37,638 a year.
- The Median household income of a Cambridge resident is $70,822 a year. The US average is $69,021 a year.