Waterloo, MI is a small town located in Michigan's Jackson County. It is home to many popular companies such as the Waterloo Gardens Nursery and Garden Center, Waterloo Farm and Home Supply, and Big T Tire & Auto Repair. The cost of living in Waterloo is relatively low compared to other parts of Michigan and across the United States. According to data from sources like Zillow, the average rent for a two-bedroom apartment in Waterloo is $1,060 per month. This is significantly lower than the national average of $1,430 per month. Additionally, grocery costs are also lower in Waterloo than the U.S. average; with an index score of 96, groceries in Waterloo are slightly more affordable than the U.S., which has an index score of 100.
Waterloo has an unemployment rate of 5.9%. The US average is 6.0%.
Waterloo 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 29.5%, which is lower than the US average of 33.5%.
Tax Rates for Waterloo
- The Sales Tax Rate for Waterloo is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Waterloo 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 Waterloo
- The average income of a Waterloo resident is $27,878 a year. The US average is $28,555 a year.
- The Median household income of a Waterloo resident is $61,782 a year. The US average is $69,021 a year.