Grand Rapids-Wyoming, MI Metro Area is a great place to live with excellent cost of living. The area has affordable rent for two bedroom apartments at $1,170 compared to the US average of $1,430. This along with a Grocery Cost Index of 95 versus 100 in the US makes it a great bargain for those looking for an affordable place to call home. The area is home to many thriving companies such as Steelcase Inc., Amway Corporation and Meijer Inc. There are also many small businesses that contribute to the local economy and create job opportunities for those who live here.
Grand Rapids-Kentwood Metro Area has an unemployment rate of 4.7%. The US average is 6.0%.
Grand Rapids-Kentwood Metro Area has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 37.2%, which is higher than the US average of 33.5%.
Tax Rates for Grand Rapids-Kentwood Metro Area
- The Sales Tax Rate for Grand Rapids-Kentwood Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids-Kentwood Metro Area is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Grand Rapids-Kentwood Metro Area
- The average income of a Grand Rapids-Kentwood Metro Area resident is $25,786 a year. The US average is $28,555 a year.
- The Median household income of a Grand Rapids-Kentwood Metro Area resident is $70,347 a year. The US average is $69,021 a year.