48701 Akron, MI is a town with a population of around 2,000 people. It has an average 2 bedroom rent of $750 per month, which is significantly lower than the US average of $1,430. This makes living in Akron much more affordable than other places in the country. Additionally, Akron's Grocery Cost Index is 89 versus 100 in the US, which creates a beneficial environment for both locals and businesses alike. This low cost of living makes it attractive for businesses to buy land and build their operations in Akron because they can offer competitive prices while still making a profit. Popular companies located here include Walmart Supercenter and Family Video Movie Club. The lower grocery costs also benefit the local economy as residents are able to save money on groceries and household items which helps increase their disposable income that can be reinvested into other goods or services within the community.
Akron (zip 48701) has an unemployment rate of 6.3%. The US average is 6.0%.
Akron (zip 48701) has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 18.0%, which is lower than the US average of 33.5%.
Tax Rates for Akron (zip 48701)
- The Sales Tax Rate for Akron (zip 48701) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Akron (zip 48701) 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 Akron (zip 48701)
- The average income of a Akron (zip 48701) resident is $20,757 a year. The US average is $28,555 a year.
- The Median household income of a Akron (zip 48701) resident is $51,917 a year. The US average is $69,021 a year.