Monroe, MI Metro Area is a great place to live and work. The area offers 2 bedroom rent for just $1,070 compared to the national average of $1,430. Additionally, residents benefit from a lower grocery cost index of 95 compared to the US average of 100. Monroe also enjoys a robust local economy with many notable companies such as La-Z-Boy Incorporated, Taylor Technology Systems Inc., DTE Energy Co., Recreational Equipment Inc., and NEMF Ohio LLC. These businesses employ thousands of people in Monroe and contribute to the growth of the region.
Monroe Metro Area has an unemployment rate of 5.6%. The US average is 6.0%.
Monroe Metro Area has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Monroe Metro Area
- The Sales Tax Rate for Monroe Metro Area is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Monroe 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 Monroe Metro Area
- The average income of a Monroe Metro Area resident is $34,608 a year. The US average is $37,638 a year.
- The Median household income of a Monroe Metro Area resident is $68,006 a year. The US average is $69,021 a year.