Melrose, MI is a small town located in the state of Michigan. It is known for its parks and recreational activities. The average two-bedroom rent cost in Melrose is $860 which is significantly lower than the US average of $1,430. Additionally, the grocery cost index in Melrose is 95 versus 100 in the US, making it an affordable place to live. In terms of businesses, Melrose has a variety of local stores and companies such as Brownberry Bakery, Kamp Fire Archery, and Precision Tool & Gage Co. It is also located near larger cities like Grand Rapids and Lansing which are just a short drive away. Therefore, Melrose provides residents with all the essentials without breaking the bank.
Melrose has an unemployment rate of 6.7%. The US average is 6.0%.
Melrose has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Melrose
- The Sales Tax Rate for Melrose is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Melrose 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 Melrose
- The average income of a Melrose resident is $29,630 a year. The US average is $28,555 a year.
- The Median household income of a Melrose resident is $73,214 a year. The US average is $69,021 a year.