48220 Ferndale, MI is an attractive city offering a variety of amenities to its residents. The area has a 2 bedroom rent rate of $1,250, which is lower than the US average rent rate of $1,430. Additionally, grocery costs are much lower than the national average with an index rating of 95 compared to 100 in the US. This makes 48220 Ferndale, MI an affordable place to live. There are many local companies that contribute to the economy such as Bayside Automotive Repair, Bykowski Insurance Agency, Ferndale Auto Center, and Inside Out Construction & Renovations. These businesses offer services ranging from auto repair and insurance services to home construction and renovation needs. Furthermore, there are many other local businesses in this area that provide quality goods and services for locals and visitors alike.
Ferndale (zip 48220) has an unemployment rate of 3.8%. The US average is 6.0%.
Ferndale (zip 48220) has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 36.5%, which is higher than the US average of 33.5%.
Tax Rates for Ferndale (zip 48220)
- The Sales Tax Rate for Ferndale (zip 48220) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Ferndale (zip 48220) 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 Ferndale (zip 48220)
- The average income of a Ferndale (zip 48220) resident is $27,849 a year. The US average is $28,555 a year.
- The Median household income of a Ferndale (zip 48220) resident is $74,090 a year. The US average is $69,021 a year.