Caro, MI is a small city in Michigan with a population of just over 5,000 people. It is known for its low cost of living and access to the great outdoors. The average rent for a two bedroom apartment in Caro is $840, compared to the US average of $1,430. In terms of grocery costs, the index score in Caro is 90, while it is 100 in the US. Some local businesses in Caro include R&B's Motor Sports, Kozak Custom Woodworking, and Marie's Appliance Repair. These companies provide good services and employment opportunities to the citizens of Caro.
Caro has an unemployment rate of 6.3%. The US average is 6.0%.
Caro 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 18.0%, which is lower than the US average of 33.5%.
Tax Rates for Caro
- The Sales Tax Rate for Caro is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Caro 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 Caro
- The average income of a Caro resident is $24,920 a year. The US average is $37,638 a year.
- The Median household income of a Caro resident is $39,554 a year. The US average is $69,021 a year.