Saranac, MI Economy


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United States / Michigan / No Metro Area / Ionia County / Saranac / Zip Codes
Saranac, MI is a vibrant city located in Michigan. It has many wonderful businesses, such as Saranac Grocery, which offer competitive prices. The cost of living in Saranac is quite affordable with 2 bedroom rent at $800 compared to the US average of $1,430. Groceries are also cheaper with an index rating of 95 versus 100 in the US. This makes Saranac a great choice for those looking for an affordable place to live. Additionally, there are plenty of local attractions and amenities that make it a great place to work and visit.

Saranac has an unemployment rate of 4.7%. The US average is 6.0%.

Saranac has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 32.3%, which is lower than the US average of 33.5%.

Tax Rates for Saranac
- The Sales Tax Rate for Saranac is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Saranac 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 Saranac
- The average income of a Saranac resident is $25,983 a year. The US average is $37,638 a year.
- The Median household income of a Saranac resident is $56,420 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomySaranac, MichiganUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
    Unlock4.6%
    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
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