Ovid, MI is a small town located in Central Michigan. With a population of approximately 3,000 people, it is home to some small businesses such as Ovid Hardware and Valley Motors. The median household income in Ovid is $60,532 with the average 2 bedroom rent costing $870 compared to the US average of $1,430. Groceries in the area are roughly 7% cheaper than the national average, as reflected by the Grocery Cost Index of 93 versus 100 in the US. Ovid provides an affordable lifestyle for those looking to settle away from big cities and enjoy all that rural Michigan has to offer.
Ovid has an unemployment rate of 4.3%. The US average is 6.0%.
Ovid has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 33.7%, which is higher than the US average of 33.5%.
Tax Rates for Ovid
- The Sales Tax Rate for Ovid is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Ovid 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 Ovid
- The average income of a Ovid resident is $18,506 a year. The US average is $28,555 a year.
- The Median household income of a Ovid resident is $49,545 a year. The US average is $69,021 a year.