Hay, MI is a quaint small town located just off the Michigan State Highway. It is known for its beautiful lakeside views and outdoor recreation opportunities. The cost of living in Hay, MI is much lower than in the US as a whole, with two bedroom rentals costing $880 compared to $1,430 nationally. Additionally, grocery costs are 91 versus 100 in the US on average making it an ideal place for individuals or families looking to save money while still living comfortably. There are a number of local businesses that locals can do business with such as Lakeside Paddle Company which provides boat tours and rentals, Through My Eyes photography which offers family portraits and other services, and Hay Lumber Inc., which supplies building materials for residential projects. With its low cost of living and plethora of local businesses to choose from, Hay, MI offers residents an affordable way to live within a tight-knit community atmosphere.
Hay has an unemployment rate of 7.5%. The US average is 6.0%.
Hay has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 23.3%, which is lower than the US average of 33.5%.
Tax Rates for Hay
- The Sales Tax Rate for Hay is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hay 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 Hay
- The average income of a Hay resident is $17,724 a year. The US average is $28,555 a year.
- The Median household income of a Hay resident is $50,625 a year. The US average is $69,021 a year.