Lincoln, MI is a small town located in the Upper Peninsula of Michigan. It is a great place for families and individuals alike, offering a low cost of living with an inexpensive 2 bedroom rent of $820 compared to the US average of $1,430. Living in Lincoln also offers plenty of shopping and dining options, with its Grocery Cost Index (91) lower than the US index (100). Some local companies include Pohl's Market, Kensington General Store, and Slim's Bar & Grill. These businesses offer excellent local products at affordable prices so that residents can continue to enjoy the low cost of living that Lincoln has to offer.
Lincoln has an unemployment rate of 7.4%. The US average is 6.0%.
Lincoln has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Lincoln
- The Sales Tax Rate for Lincoln is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lincoln 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 Lincoln
- The average income of a Lincoln resident is $15,647 a year. The US average is $28,555 a year.
- The Median household income of a Lincoln resident is $28,214 a year. The US average is $69,021 a year.