Silver Creek, MI is a small but charming town situated in the Lower Peninsula of Michigan. The cost of living in Silver Creek is quite low as evidenced by its 2 bedroom rent ($830) which is significantly lower than the US average ($1,430). Additionally, the Grocery Cost Index in Silver Creek is 90 versus 100 in the US, making groceries more affordable for residents. This makes it an attractive place to live for families looking to save money on basic necessities.
Silver Creek has plenty to offer regardless of budget, with local attractions like the Silver Creek Historical Museum and Old Towne Shopping Centre, as well as regional companies such as Fastenal and Malleable Iron Foundry located nearby. With its relatively low living costs and abundance of activities available, Silver Creek provides plenty of options for both residents and visitors alike.
Silver Creek has an unemployment rate of 5.2%. The US average is 6.0%.
Silver Creek has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for Silver Creek
- The Sales Tax Rate for Silver Creek is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Silver Creek 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 Silver Creek
- The average income of a Silver Creek resident is $25,712 a year. The US average is $28,555 a year.
- The Median household income of a Silver Creek resident is $66,250 a year. The US average is $69,021 a year.