Eagle River, MI is a small city located in Michigan’s Upper Peninsula. Despite its size, Eagle River has plenty to offer with its diverse culture and vibrant atmosphere. The city boasts an affordable cost of living with 2 bedroom rent averaging $820 per month compared to the US average of $1,430. Additionally, grocery costs are lower here than in other parts of the country with a local Grocery Cost Index of 92 versus 100 for the US. \nIn Eagle River, there are numerous businesses that contribute to its economy such as Algoma Hardwoods, Keweenaw Automotive Group and various retail stores like Walmart and Target. Nearby universities and institutions offer opportunities for education and research such as Northern Michigan University and Lake Superior State University. Living in Eagle River is an ideal choice for those looking to be part of a close-knit community filled with unique opportunities.
Eagle River has an unemployment rate of 7.2%. The US average is 6.0%.
Eagle River has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 22.1%, which is lower than the US average of 33.5%.
Tax Rates for Eagle River
- The Sales Tax Rate for Eagle River is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Eagle River 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 Eagle River
- The average income of a Eagle River resident is $49,431 a year. The US average is $28,555 a year.
- The Median household income of a Eagle River resident is $57,500 a year. The US average is $69,021 a year.