Enterprise, MI is a small city located in the Upper Peninsula of Michigan. The city is home to many local businesses such as Enterprise Auto Parts, Enterprise Wood Products, and Enterprise Signs & Graphics. These businesses provide employment opportunities for residents and help to create a vibrant economy. The cost of living in Enterprise, MI is lower than the national average. For example, the median rent for a two-bedroom apartment in Enterprise is $870 compared to the US two bedroom rent of $1,430. The Grocery Cost Index in Enterprise is 90 versus 100 nationally. This lower cost of living makes it easier for residents to afford basic needs while still having money left over for other expenses.
Enterprise has an unemployment rate of 6.2%. The US average is 6.0%.
Enterprise has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 25.7%, which is lower than the US average of 33.5%.
Tax Rates for Enterprise
- The Sales Tax Rate for Enterprise is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Enterprise 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 Enterprise
- The average income of a Enterprise resident is $22,687 a year. The US average is $28,555 a year.
- The Median household income of a Enterprise resident is $48,750 a year. The US average is $69,021 a year.