Memphis, MI is a charming, small town located in Macomb County. Its close proximity to Detroit, just 30 miles away, makes it an ideal destination for those interested in both urban and rural living. The cost of living in Memphis is lower than average with two bedroom rental costs roughly $970 per month and groceries costing around 96 compared to the US average of 100. Popular local companies include Beaumont Health Systems, Olympus Corporation, and KCP Industries; while other major industries include agriculture and manufacturing. With its diverse array of businesses and activities, Memphis is sure to be a great place for all types of people.
Memphis has an unemployment rate of 4.3%. The US average is 6.0%.
Memphis has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 37.4%, which is higher than the US average of 33.5%.
Tax Rates for Memphis
- The Sales Tax Rate for Memphis is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Memphis 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 Memphis
- The average income of a Memphis resident is $20,022 a year. The US average is $28,555 a year.
- The Median household income of a Memphis resident is $52,868 a year. The US average is $69,021 a year.