Milford, Michigan is a small town located in Oakland County and has a population of approximately 48380. The town is situated close to I-96, making it very easy to access the nearby city of Ann Arbor. There is also an abundance of outdoor activities such as hiking, biking, and camping that can be enjoyed due to the close proximity to several nature preserves. The two bedroom rent in Milford typically costs around $1,810 per month which is slightly higher than the US average of $1,430. Grocery cost index for Milford is 103 versus 100 in the US on average.
Milford offers many employment opportunities with well-known companies such as Huron Valley Steel Corporation that manufactures steel products and United Plastic Components Inc., which specializes in plastic injection molding. Other notable employers include Michigan Rubber Products which produces rubber parts for automotive production and Goldstar Gourmet Products Inc., offering various food items and sauces. Each of these businesses provides quality jobs with competitive salaries and benefits packages that attract many residents to Milford.
Milford (zip 48380) has an unemployment rate of 3.5%. The US average is 6.0%.
Milford (zip 48380) 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 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Milford (zip 48380)
- The Sales Tax Rate for Milford (zip 48380) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Milford (zip 48380) 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 Milford (zip 48380)
- The average income of a Milford (zip 48380) resident is $40,203 a year. The US average is $28,555 a year.
- The Median household income of a Milford (zip 48380) resident is $121,116 a year. The US average is $69,021 a year.