Humboldt, MI is an ideal place to live and work due to its low costs of living. The cost of a two bedroom rent in Humboldt, MI is $930 whereas the US average for two bedroom rent is $1,430. This gives residents a significant savings in terms of housing costs as the cost of living in Humboldt, MI remains relatively low. Furthermore, the grocery cost index in Humboldt is 90 versus 100 in the US which makes it attractive for people looking for affordable groceries. There are many local companies that make the city vibrant such as Local Motors Manufacturing Company, Antrim County Airport and Textron Aviation. With its lower costs of living and variety of local businesses, Humboldt provides an attractive option for those looking to call this city home.
Humboldt has an unemployment rate of 5.9%. The US average is 6.0%.
Humboldt has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Humboldt
- The Sales Tax Rate for Humboldt is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Humboldt 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 Humboldt
- The average income of a Humboldt resident is $20,757 a year. The US average is $28,555 a year.
- The Median household income of a Humboldt resident is $64,063 a year. The US average is $69,021 a year.