Hendricks, MI is an interesting town with a wide range of amenities. It has two bedroom rental costs that are much lower than the national average; at $820 versus $1,430 respectively. Furthermore, Hendricks has a Grocery Cost Index of 92 compared to the US average of 100. In terms of local companies, there are many small businesses in Hendricks including restaurants, retail stores and service providers like plumbing and auto repair. The cost of living is relatively low and there are great opportunities to save money while enjoying the same quality of services found in more expensive parts of the country. The overall economy is fairly stable with employment opportunities ranging from full-time work to part-time positions for those looking for additional income sources.
Hendricks has an unemployment rate of 16.2%. The US average is 6.0%.
Hendricks has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Hendricks
- The Sales Tax Rate for Hendricks is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hendricks 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 Hendricks
- The average income of a Hendricks resident is $29,325 a year. The US average is $37,638 a year.
- The Median household income of a Hendricks resident is $39,545 a year. The US average is $69,021 a year.