Honor, MI is a small town located in the northwest part of Michigan’s lower peninsula. It has several local businesses that contribute to the local economy. The average two bedroom rent for Honor, MI is $990, which is much lower than the US average of $1,430. Additionally, the grocery cost index in Honor, MI is 96 versus 100 in the rest of the United States. Some popular local businesses include: The Honorable Pub & Grub, Big Country Grocery Store and Lakeside Automotive Repair Inc. These businesses provide goods and services to both locals and tourists alike. With its low rent prices and cost of living expenses, Honor is an attractive place for those looking to make a new start in life or retire.
Honor has an unemployment rate of 6.9%. The US average is 6.0%.
Honor has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Honor
- The Sales Tax Rate for Honor is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Honor 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 Honor
- The average income of a Honor resident is $18,740 a year. The US average is $28,555 a year.
- The Median household income of a Honor resident is $51,250 a year. The US average is $69,021 a year.