Dollar Bay, MI is a small city located in the Upper Peninsula of Michigan. It is home to a variety of businesses including Dollar Bay Machine Shop, Inc., Beaumont Glass Co., and the Dollar Bay Lumber Company. The cost of living in Dollar Bay is relatively low; for instance, 2 bedroom rent is $830 compared to the US average which is $1,430. Additionally, the grocery cost index in Dollar Bay is 92 while it's 100 in the US. This makes Dollar Bay an ideal spot for those looking to save money on their daily expenses or just looking for a quieter lifestyle.
Dollar Bay has an unemployment rate of 5.4%. The US average is 6.0%.
Dollar Bay has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 23.9%, which is lower than the US average of 33.5%.
Tax Rates for Dollar Bay
- The Sales Tax Rate for Dollar Bay is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Dollar Bay 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 Dollar Bay
- The average income of a Dollar Bay resident is $21,752 a year. The US average is $28,555 a year.
- The Median household income of a Dollar Bay resident is $57,031 a year. The US average is $69,021 a year.