The 2 bedroom rent in Detroit, MI 48223 is $1120 which is significantly lower than the US average of $1430. Additionally, the Grocery Cost Index is 91 versus 100 in the United States making groceries more affordable overall. Detroit 48223 has a lot to offer locals and visitors alike. The city is home to major companies like Quicken Loans, Little Caesars Pizza, and Meijer Stores all of which are headquartered in Detroit. It is also home to some of the world's top Universities such as Wayne State University and University of Michigan. For visitors there are plenty of attractions to visit such as the Motown Historical Museum, Detroit Institute of Arts, and Comerica Park where you can watch baseball games with friends and family all year round.
Detroit (zip 48223) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48223) has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Detroit (zip 48223)
- The Sales Tax Rate for Detroit (zip 48223) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48223) is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Detroit (zip 48223)
- The average income of a Detroit (zip 48223) resident is $16,994 a year. The US average is $28,555 a year.
- The Median household income of a Detroit (zip 48223) resident is $38,933 a year. The US average is $69,021 a year.