Foster, MI is a small town with a lot to offer potential residents. The 2 bedroom rental cost in the area is much lower than the US average, at only $820 per month, making it an affordable place to call home. Additionally, grocery prices are much cheaper than average which can help stretch your budget further. There are several great local companies such as Foster Hardware and Supply Co., a family-run business that has been around for more than 50 years, and Foster Auto Parts which supplies parts for all makes and models of cars. With its low cost of living, friendly locals, and great amenities like parks and trails nearby, Foster is a great small town if you're looking for a place to settle down.
Foster has an unemployment rate of 8.5%. The US average is 6.0%.
Foster 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 16.3%, which is lower than the US average of 33.5%.
Tax Rates for Foster
- The Sales Tax Rate for Foster is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Foster 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 Foster
- The average income of a Foster resident is $22,825 a year. The US average is $28,555 a year.
- The Median household income of a Foster resident is $52,862 a year. The US average is $69,021 a year.