Ann Arbor, Michigan, with its zip code 48103, is an attractive city for those looking to rent. According to recent data, a two-bedroom rental in Ann Arbor costs an average of $1,720—about $290 more than the national average of $1,430. Grocery costs also tend to be higher in Ann Arbor; the grocery index hovers around 102 compared to 100 in the US.
The city of Ann Arbor is known for its educational opportunities (it's home to the University of Michigan), a vibrant local economy with many major corporations and start-ups based here such as Google, Barracuda Networks and Amazon Robotics. With numerous places to eat and shop, and plenty of cultural attractions like art galleries and museums, it's easy to see why so many people are drawn to this unique city. Additionally Ann Arbor has more than 250 parks and nature areas that come alive with color each spring making it one of the most beautiful places in Michigan.
Ann Arbor (zip 48103) has an unemployment rate of 3.5%. The US average is 6.0%.
Ann Arbor (zip 48103) has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 38.1%, which is higher than the US average of 33.5%.
Tax Rates for Ann Arbor (zip 48103)
- The Sales Tax Rate for Ann Arbor (zip 48103) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Ann Arbor (zip 48103) 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 Ann Arbor (zip 48103)
- The average income of a Ann Arbor (zip 48103) resident is $43,858 a year. The US average is $28,555 a year.
- The Median household income of a Ann Arbor (zip 48103) resident is $106,715 a year. The US average is $69,021 a year.