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.