Monroe, MI is an excellent city to call home. Not only does the city offer affordable 2 bedroom rentals at $1,010 per month in comparison to the US average of $1,430, but also has reasonable grocery prices with a cost index of 93 versus 100 in the US. Furthermore, Monroe has a vibrant business environment with companies such as La-Z-Boy Furniture Gallery, Monroe Tractor & Implement Co and ProMedica Monroe Regional Hospital offering ample employment opportunities for its residents. All these factors make Monroe an ideal place to live with its affordable housing costs and strong local economy.
Monroe has an unemployment rate of 5.6%. The US average is 6.0%.
Monroe has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Monroe
- The Sales Tax Rate for Monroe is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Monroe 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 Monroe
- The average income of a Monroe resident is $22,937 a year. The US average is $28,555 a year.
- The Median household income of a Monroe resident is $53,644 a year. The US average is $69,021 a year.