Indian River, MI is a small town located in Michigan's Upper Peninsula. Its 2 bedroom rent is significantly lower than the US average at $850 compared to $1,430. This makes Indian River an attractive option for those looking for affordable housing. The cost of living here is also relatively low as indicated by its Grocery Cost Index of 92 versus 100 in the US. This means that groceries are 8% cheaper here than across the country. Additionally, the median home price in Indian River is around $100,000 which is relatively inexpensive compared to other parts of Michigan and the US. Popular local companies include Smalley’s Carpeting & Flooring and Grandpa Shorter’s Gifts & Collectibles. All in all, Indian River offers an affordable lifestyle with plenty of local businesses to explore!
Indian River has an unemployment rate of 13.1%. The US average is 6.0%.
Indian River 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 17.5%, which is lower than the US average of 33.5%.
Tax Rates for Indian River
- The Sales Tax Rate for Indian River is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Indian River 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 Indian River
- The average income of a Indian River resident is $26,712 a year. The US average is $28,555 a year.
- The Median household income of a Indian River resident is $52,000 a year. The US average is $69,021 a year.