Mackinac Island, MI is a popular tourist destination located in the Straits of Mackinac. This small island offers scenic views of Lake Huron, with plenty of outdoor activities for visitors to enjoy such as biking, hiking, and fishing. Residentially speaking, Mackinac Island is quite affordable given that the average 2 bedroom rent is only $1,190 compared to the US average of $1,430. Additionally, groceries are also comparatively inexpensive on the island as its grocery cost index stands at 105 versus 100 in the US. Those looking for local goods and services can find them at companies like Mackinac Island Carriage Tours, Star Line Ferry Company LLC, Grand Hotel of Mackinac Island, and Doud's Market.
Mackinac Island has an unemployment rate of 16.2%. The US average is 6.0%.
Mackinac Island has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Mackinac Island
- The Sales Tax Rate for Mackinac Island is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Mackinac Island 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 Mackinac Island
- The average income of a Mackinac Island resident is $29,429 a year. The US average is $28,555 a year.
- The Median household income of a Mackinac Island resident is $60,500 a year. The US average is $69,021 a year.