Lawrence, MI is a small town with a population of just over 8,000 people. It offers an affordable cost of living with two bedroom rent averaging $870 compared to the U.S. average of $1,430 per month. The grocery cost index in Lawrence is 93 versus the U.S. average of 100 making it much more affordable to live here than other parts of the nation.
The town has several local companies that are popular employers such as Lawrence Plating Co., L & K Transportation, and Best Tool and Engineering providing jobs for residents and those commuting from nearby areas or cities. The job market is relatively stable in this area and unemployment levels remain low due to these employers.
Lawrence has an unemployment rate of 6.6%. The US average is 6.0%.
Lawrence has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 25.8%, which is lower than the US average of 33.5%.
Tax Rates for Lawrence
- The Sales Tax Rate for Lawrence is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lawrence 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 Lawrence
- The average income of a Lawrence resident is $14,761 a year. The US average is $28,555 a year.
- The Median household income of a Lawrence resident is $39,844 a year. The US average is $69,021 a year.