New Era, MI is a small town located in the Midwest with a population of around 1,800 people. The cost of living in New Era is quite low when compared to the national average. For example, the rent for a 2-bedroom apartment is just $820 compared to $1,430 for the same size unit nationally. Additionally, the Grocery Cost Index for New Era is 92 compared to 100 in the US. Notable local companies include Betson Farms, which grows wheat and other crops, and Clareia’s Bakery which offers freshly made desserts and treats made with locally sourced ingredients. All things considered, New Era is an affordable place to live with plenty of employment opportunities.
New Era has an unemployment rate of 8.0%. The US average is 6.0%.
New Era has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for New Era
- The Sales Tax Rate for New Era is 6.0%. The US average is 7.3%.
- The Income Tax Rate for New Era 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 New Era
- The average income of a New Era resident is $21,233 a year. The US average is $28,555 a year.
- The Median household income of a New Era resident is $68,750 a year. The US average is $69,021 a year.