Lowell, MI is a small town situated in western Michigan. It is known for its small-town charm and beautiful scenery. There are many local businesses based in Lowell, including Westwood Hardware, D&W Fresh Market, and Wojcik's Funeral Chapel. The cost of living in Lowell is relatively low compared to other cities in the US; 2 bedroom rent averages at $1,200 whereas the national average is $1,430. Additionally, the Grocery Cost Index in Lowell is 98 versus 100 in the US. All in all, Lowell offers a great quality of life for those who want to settle down in a quiet and affordable area.
Lowell has an unemployment rate of 4.8%. The US average is 6.0%.
Lowell 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 37.7%, which is higher than the US average of 33.5%.
Tax Rates for Lowell
- The Sales Tax Rate for Lowell is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lowell 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 Lowell
- The average income of a Lowell resident is $22,114 a year. The US average is $28,555 a year.
- The Median household income of a Lowell resident is $64,801 a year. The US average is $69,021 a year.