Lima, MI is a city in Michigan known for its local businesses and affordable cost of living. The average rent for a 2 bedroom apartment in Lima is $1,440 compared to the US average of $1,430. Other costs such as groceries are also lower in Lima with an index of 101 versus 100 in the US. For those looking to relocate, Lima is a great choice with great money saving opportunities. Some popular local businesses include Maumee Valley Truck Center, First Class Auto Care, and Clearwater Construction. With rents and other costs being substantially lower than the US average, Lima has become a desirable location to call home.
Lima has an unemployment rate of 4.3%. The US average is 6.0%.
Lima has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Lima
- The Sales Tax Rate for Lima is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lima 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 Lima
- The average income of a Lima resident is $35,657 a year. The US average is $28,555 a year.
- The Median household income of a Lima resident is $98,967 a year. The US average is $69,021 a year.