Lapeer, MI is a great place to live and work. The cost of living is low with an average two bedroom rent for around $1,050 compared to the national average of $1,430. Additionally, the Grocery Cost Index is 94 which is lower than the US index of 100. This makes Lapeer a great option for families on a budget or those looking to save money. Local companies include Terry Walker Chevrolet, Lapeer County Bank & Trust and Evergreen Chiropractic Center. Many other businesses are also available including retail outlets, restaurants and coffee shops. With its affordability and variety of amenities, Lapeer is an attractive city with plenty to offer its residents.
Lapeer has an unemployment rate of 4.9%. The US average is 6.0%.
Lapeer has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Lapeer
- The Sales Tax Rate for Lapeer is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lapeer is 5.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lapeer
- The average income of a Lapeer resident is $17,738 a year. The US average is $28,555 a year.
- The Median household income of a Lapeer resident is $47,990 a year. The US average is $69,021 a year.