Caspian, MI is a small town situated in the northern region of Michigan and it offers a peaceful and tranquil atmosphere for the locals. The town has many local businesses such as Caspian Supermarket, Caspian Power Supply and Prime Industries which offer goods and services to the local population. Living in Caspian is quite affordable with 2 Bedroom Rent being $650 compared to the US rate of $1,430, while the Grocery Cost Index is 88 versus 100 in the US. This makes it an attractive option for people who wish to have a relaxed life while saving money on rent expenses.
Caspian has an unemployment rate of 6.8%. The US average is 6.0%.
Caspian has seen the job market decrease by -5.4% over the last year. Future job growth over the next ten years is predicted to be 24.7%, which is lower than the US average of 33.5%.
Tax Rates for Caspian
- The Sales Tax Rate for Caspian is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Caspian 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 Caspian
- The average income of a Caspian resident is $23,829 a year. The US average is $37,638 a year.
- The Median household income of a Caspian resident is $39,583 a year. The US average is $69,021 a year.