Colon township, MI Economy


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Colon Township, MI is a small town located in the south of Michigan. It has a cozy atmosphere and is known for its rural charm. The rent for two bedroom apartments is $850, making it more affordable than most parts of the US where the 2 Bedroom rent averages at $1,430. Additionally, the Grocery Cost Index in Colon township is 93 versus 100 in the US - another economical advantage for living there!
The town offers various amenities to its residents such as health facilities provided by Colon Community Hospital and recreational activities provided by Colon Township Park, which features walking trails, playgrounds and fishing. There are also some great restaurants like T & J BBQ And Catering and El Rancho Mexican Restaurant that offer delicious foods from all over the world. Furthermore, locals also enjoy annual events like Summer Breeze Music Festival and Maple Syrup Festival which bring together people from all over the area!

Colon township has an unemployment rate of 4.9%. The US average is 6.0%.

Colon township has seen the job market decrease by -2.3% over the last year. Future job growth over the next ten years is predicted to be 25.0%, which is lower than the US average of 33.5%.

Tax Rates for Colon township
- The Sales Tax Rate for Colon township is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Colon township 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 Colon township
- The average income of a Colon township resident is $27,934 a year. The US average is $37,638 a year.
- The Median household income of a Colon township resident is $55,721 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyColon township, MichiganUnited States
  4.96
  -2.3%-6.2%
  25.0%33.5%
  6.0%6.2%
  4.3%4.6%
  $27,934$37,638
  $55,721$69,021
  $66,563$85,028
  Population by Occupation
  5.8%1.2%
  0.0%0.5%
  10.4%6.8%
  45.6%10.0%
  1.7%2.5%
  5.0%11.0%
  1.4%4.8%
  0.0%0.8%
  0.2%1.9%
  3.4%4.7%
  1.0%1.9%
  0.4%7.6%
  0.2%0.1%
  3.2%4.2%
  5.5%9.3%
  4.0%14.0%
  0.0%2.1%
  8.4%7.0%
  3.7%4.8%
  0.3%4.7%
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