Springvale, MI Economy


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United States / Michigan / No Metro Area / Emmet County / Springvale / Zip Codes
Springvale, MI is a small town located in the Midwest with a population of about 1,000 people. It offers its citizens quiet living and affordable housing options; in particular two-bedroom apartments are available for rent at an average rate of $990, which is much lower than the US average of $1,430. Additionally, the cost of groceries is also lower than the US average index (95 as opposed to 100), making it easier for households to make ends meet. The town has a few local businesses such as Springvale Pharmacy and Springvale Auto Repair that provide essential services to residents.

Springvale has an unemployment rate of 7.5%. The US average is 6.0%.

Springvale has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 24.2%, which is lower than the US average of 33.5%.

Tax Rates for Springvale
- The Sales Tax Rate for Springvale is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Springvale 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 Springvale
- The average income of a Springvale resident is $37,616 a year. The US average is $37,638 a year.
- The Median household income of a Springvale resident is $78,214 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomySpringvale, MichiganUnited States
  7.56
  -8.2%-6.2%
  24.2%33.5%
  6.0%6.2%
  4.3%4.6%
  $37,616$37,638
  $78,214$69,021
  $88,702$85,028
  Population by Occupation
  0.7%1.2%
  0.0%0.5%
  11.6%6.8%
  10.9%10.0%
  1.9%2.5%
  10.4%11.0%
  2.8%4.8%
  0.0%0.8%
  0.3%1.9%
  3.2%4.7%
  3.4%1.9%
  4.0%7.6%
  0.0%0.1%
  2.4%4.2%
  2.9%9.3%
  23.3%14.0%
  1.7%2.1%
  6.2%7.0%
  4.2%4.8%
  10.1%4.7%
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