Port Hope, MI is a small town located in the Lower Peninsula of Michigan. It is known for its beautiful scenery and great outdoor activities. The cost of living in Port Hope is relatively low compared to other places in the United States, with a two bedroom average rent being $810 compared to the national average of $1,430. Grocery costs are also lower here than across the country, with an Index score of 90 versus 100 nationally. The town's economy relies largely on local small businesses that provide goods and services for residents. Notable local companies include Proctor's Hardware Store, Bailey's Auto Supply, and Barnes Electrical Services. Port Hope is a great place to live if you're looking for an affordable lifestyle without sacrificing quality.
Port Hope has an unemployment rate of 5.7%. The US average is 6.0%.
Port Hope has seen the job market decrease by -0.7% over the last year. Future job growth over the next ten years is predicted to be 14.3%, which is lower than the US average of 33.5%.
Tax Rates for Port Hope
- The Sales Tax Rate for Port Hope is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Port Hope 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 Port Hope
- The average income of a Port Hope resident is $23,048 a year. The US average is $28,555 a year.
- The Median household income of a Port Hope resident is $40,625 a year. The US average is $69,021 a year.