The Houghton, MI Metro Area is a bustling community with plenty of opportunities for both work and leisure. Residents of the area have access to a variety of local businesses, such as MTU Tech Store, Adventure Mining Company, and Fitger's Brewery. The cost of living in Houghton is below the US average—2 bedroom rent averages around $830 compared to $1,430 throughout the country while grocery costs index at 91 versus 100 in the US. All in all, Houghton is an attractive town with plenty to offer its residents.
Houghton Metro Area has an unemployment rate of 5.5%. The US average is 6.0%.
Houghton Metro Area has seen the job market decrease by -4.5% over the last year. Future job growth over the next ten years is predicted to be 24.0%, which is lower than the US average of 33.5%.
Tax Rates for Houghton Metro Area
- The Sales Tax Rate for Houghton Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Houghton Metro Area 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 Houghton Metro Area
- The average income of a Houghton Metro Area resident is $27,730 a year. The US average is $37,638 a year.
- The Median household income of a Houghton Metro Area resident is $48,906 a year. The US average is $69,021 a year.