Thetford, MI is a small town located in central Michigan. Because of its rural location, the cost of living in Thetford is much lower than other parts of Michigan. Housing costs in Thetford are especially affordable, with the average two bedroom rent at just $830 per month. This is significantly lower than the national average of $1,430 for the same sized apartment. In terms of groceries, Thetford has a Grocery Cost Index of 92 compared to 100 across the US; indicating that food prices here are also much more affordable than other areas.
Thetford is home to many local businesses including Thitwood Farms and Thetford Country Store. Thitwood Farms offers fresh produce and organic meats while Thetford Country Store features local artworks as well as home goods and apparel.
Overall, Thetford provides an excellent quality of life for those looking to enjoy an affordable lifestyle in a small town setting. With its low housing costs, Grocery Cost Index score and abundance of local establishments, Thetford is an ideal place for those seeking to settle down or purchase property in Michigan.
Thetford has an unemployment rate of 7.1%. The US average is 6.0%.
Thetford has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 25.7%, which is lower than the US average of 33.5%.
Tax Rates for Thetford
- The Sales Tax Rate for Thetford is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Thetford 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 Thetford
- The average income of a Thetford resident is $24,661 a year. The US average is $28,555 a year.
- The Median household income of a Thetford resident is $61,192 a year. The US average is $69,021 a year.