Krakow, MI is a small town located in the Midwest. It has an affordable cost of living and offers residents a relaxed atmosphere to call home. The average rent for a two-bedroom apartment in Krakow is $920 per month compared to the US average of $1,430, making it a great choice for those looking for more affordable housing options. Furthermore, the Grocery Cost Index in Krakow is 93 compared to 100 in the US, meaning groceries are also much more affordable than other places. \nThere are plenty of local businesses that make up Krakow’s economy, including Pepe’s Pizza & Italian Restaurant, Suburban Lanes Bowling Alley, Artisan Homebrew Supply Company, The Gun & Sprocket Pub and Grill, and Waltz Hardware Store. These local businesses provide goods and services that are essential to the daily life of residents and contribute significantly to the community's livelihood.
Krakow has an unemployment rate of 9.5%. The US average is 6.0%.
Krakow has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 11.8%, which is lower than the US average of 33.5%.
Tax Rates for Krakow
- The Sales Tax Rate for Krakow is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Krakow 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 Krakow
- The average income of a Krakow resident is $24,692 a year. The US average is $28,555 a year.
- The Median household income of a Krakow resident is $55,074 a year. The US average is $69,021 a year.