Michigamme, MI is a small town in Michigan with an affordable cost of living. The average 2 bedroom rent in Michigamme is $910 which is much lower than the national average of $1,430. The Grocery Cost Index in Michigamme is 92 versus 100 for the US, making it a very attractive place to live for those looking to save money on essential items. Popular local companies and attractions include Bayshore Resort & Marina, the Michigamme Community Center, and the Tamarack Country Store. Visitors and residents alike can enjoy boating and fishing on Lake Michigamme or take a leisurely hike on one of its many trails.
Michigamme has an unemployment rate of 5.9%. The US average is 6.0%.
Michigamme has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Michigamme
- The Sales Tax Rate for Michigamme is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Michigamme 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 Michigamme
- The average income of a Michigamme resident is $22,656 a year. The US average is $28,555 a year.
- The Median household income of a Michigamme resident is $41,250 a year. The US average is $69,021 a year.