Leelanau, MI is a picturesque small town nestled in the northern tip of Michigan’s Lower Peninsula. The town offers stunning views of Lake Michigan and plenty of outdoor recreation opportunities. The cost of living in Leelanau is quite competitive versus the rest of the US, with two bedroom rentals costing $1,320 compared to $1,430 nationally. In addition, groceries are slightly less expensive too with a grocery cost index of 99 versus 100 in the US.
Leelanau has a thriving local economy, with some notable companies based in the area including Leland Clothing Company, Fox Hill Farm & Cheese House, and The Village Cheese Shanty. These businesses offer high-quality goods and services while employing local residents and sustaining the local economy.
Leelanau has an unemployment rate of 6.1%. The US average is 6.0%.
Leelanau has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 28.7%, which is lower than the US average of 33.5%.
Tax Rates for Leelanau
- The Sales Tax Rate for Leelanau is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Leelanau 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 Leelanau
- The average income of a Leelanau resident is $35,842 a year. The US average is $28,555 a year.
- The Median household income of a Leelanau resident is $75,179 a year. The US average is $69,021 a year.