Armada, MI is a small city located in Michigan with a population of 1,722. It's a great place to live due to its affordability and low cost of living. The average rent for a two-bedroom apartment in Armada is $1,120 per month which is significantly lower than the US average of $1,430. The Grocery Cost Index for Armada is 98 compared to the 100 national average. This makes it cheaper to buy groceries in Armada than in most other areas of the country.
Armada has plenty of local businesses such as K&S Tool & Die that provides engineering services and manufacturing solutions; Armada Machine Shop that provides machining services; Prime Timber Products that produces premium quality lumber; and Lenard Excavating Inc that specializes in excavation work. These businesses make the area economically viable and contribute positively to the local economy.
Armada (zip 48005) has an unemployment rate of 4.3%. The US average is 6.0%.
Armada (zip 48005) has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 37.4%, which is higher than the US average of 33.5%.
Tax Rates for Armada (zip 48005)
- The Sales Tax Rate for Armada (zip 48005) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Armada (zip 48005) 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 Armada (zip 48005)
- The average income of a Armada (zip 48005) resident is $30,088 a year. The US average is $28,555 a year.
- The Median household income of a Armada (zip 48005) resident is $91,122 a year. The US average is $69,021 a year.