Cannon, MI is a small city located in Michigan's Upper Peninsula. The population is estimated to be around 1,000 people and it offers a tranquil atmosphere for those seeking a peaceful place to live. The cost of living in Cannon is much lower than the national average; for example, two bedroom rental prices are approximately $1,390 compared to the US average of $1,430. Additionally, purchasing groceries in Cannon will only put you at 99 on the Grocery Cost Index versus 100 in the US.
Cannon has several local companies that offer employment opportunities including Upper Peninsula Power Company and Wells Fargo among many others. For recreation, locals often take advantage of nearby recreational areas such as Tahquamenon Falls State Park or Trout Lake Natural Area. Overall, Cannon offers a peaceful atmosphere with an affordable cost of living and plenty of opportunities for new residents to explore.
Cannon has an unemployment rate of 4.8%. The US average is 6.0%.
Cannon has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 37.7%, which is higher than the US average of 33.5%.
Tax Rates for Cannon
- The Sales Tax Rate for Cannon is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cannon 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 Cannon
- The average income of a Cannon resident is $35,933 a year. The US average is $28,555 a year.
- The Median household income of a Cannon resident is $108,808 a year. The US average is $69,021 a year.