Excelsior, MI is a small town located in southwest Michigan. It is home to many local companies and organizations such as the Excelsior Public Library, Excelsior Art Center, and G&R Marine. These businesses provide the community with necessary services and resources for its residents. The cost of living in Excelsior is much lower than in the United States overall. 2 bedroom rent in Excelsior is $800 compared to $1,430 in the US while the Grocery Cost Index is 91 versus 100 in the US. Therefore, it provides an affordable option for those who are looking to live a comfortable lifestyle without breaking their budget.
Excelsior has an unemployment rate of 8.0%. The US average is 6.0%.
Excelsior has seen the job market decrease by -6.8% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Excelsior
- The Sales Tax Rate for Excelsior is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Excelsior 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 Excelsior
- The average income of a Excelsior resident is $23,616 a year. The US average is $37,638 a year.
- The Median household income of a Excelsior resident is $47,250 a year. The US average is $69,021 a year.