Cherry Valley, MI is an affordable place to live with a low cost of living. The average rent for a two bedroom apartment in Cherry Valley, MI is $760, which is much lower than the US average of $1,430. Additionally, the grocery cost index in Cherry Valley is 90 versus 100 in the US. This means that groceries are relatively cheap in this town compared to other places. Local businesses such as Country Store Inc., K & S Well Drilling and Pump Service Inc., and Cherry Valley Marketplace help make this small town a great place to live. With these lower costs of rent and groceries, more people are looking into moving to Cherry Valley for an affordable lifestyle.
Cherry Valley has an unemployment rate of 8.4%. The US average is 6.0%.
Cherry Valley has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Cherry Valley
- The Sales Tax Rate for Cherry Valley is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Cherry Valley 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 Cherry Valley
- The average income of a Cherry Valley resident is $13,558 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Valley resident is $42,188 a year. The US average is $69,021 a year.