Michigamme township, MI is a small township located in Michigan with an affordable cost of living. The average 2 Bedroom rent in Michigamme township is $910 which is much lower than the estimated US average of $1,430. Grocery costs in Michigamme township are also quite low with an index of 92 versus 100 for the US. This stongly suggests that Michigamme township has a very affordable cost of living. \nThe local economy of Michigamme township is mostly supported by small businesses such as the Roly Poly Bakery, Mikes Gun Shop, and the Michigamme Market. These small business help to create employment opportunities and help to improve the overall economy of Michigamme Township. Additionally, the strong economic index suggest that Michigamme Township has a promising future for its residents and businesses alike.
Michigamme township has an unemployment rate of 5.9%. The US average is 6.0%.
Michigamme township 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 township
- The Sales Tax Rate for Michigamme township is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Michigamme township 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 township
- The average income of a Michigamme township resident is $23,005 a year. The US average is $28,555 a year.
- The Median household income of a Michigamme township resident is $55,625 a year. The US average is $69,021 a year.