Detroit, MI 48224 is a vibrant city with a unique mix of culture and architecture. It has a population of about 672,000 people and offers a range of housing options for residents. The average two-bedroom apartment in the area rents for $1,120 per month. This is slightly lower than the national average of $1,430 per month for two-bedroom apartments. Additionally, Detroit residents can benefit from the city's low cost grocery index of 89 compared to the US average grocery cost index of 100.
Residents of Detroit enjoy access to plenty of local entertainment and culture. There are several thriving businesses in the area including Ford Motor Company, Quicken Loans and General Motors. Detroit also hosts renowned music festivals such as Movement Electronic Music Festival and Michigan Pride Festival every year. Visitors to Detroit can find plenty to do while exploring this dynamic city.
Detroit (zip 48224) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48224) 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 48224)
- The Sales Tax Rate for Detroit (zip 48224) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48224) 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 48224)
- The average income of a Detroit (zip 48224) resident is $14,937 a year. The US average is $28,555 a year.
- The Median household income of a Detroit (zip 48224) resident is $37,206 a year. The US average is $69,021 a year.