Beaver Island, Michigan is an idyllic location for those looking for a peaceful getaway from the hustle and bustle of everyday life. Located in Charlevoix County in Northern Michigan, Beaver Island offers natural beauty, historical sites, outdoor activities, and much more. This small island has a population of just 497 people and is serviced by local companies such as Beaver Island Boat Company, Shamrock Lodge & Cottages, and the Beaver Island Rural Health Center. The cost of living on Beaver Island is quite affordable with 2 bedroom rent averaging $880 compared to the US average of $1,430. Grocery costs are also very reasonable with a grocery cost index of 96 versus 100 in the US. All these factors make this remote location a great place to call home.
Beaver Island (zip 49782) has an unemployment rate of 6.7%. The US average is 6.0%.
Beaver Island (zip 49782) has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Beaver Island (zip 49782)
- The Sales Tax Rate for Beaver Island (zip 49782) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Beaver Island (zip 49782) 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 Beaver Island (zip 49782)
- The average income of a Beaver Island (zip 49782) resident is $26,457 a year. The US average is $28,555 a year.
- The Median household income of a Beaver Island (zip 49782) resident is $67,188 a year. The US average is $69,021 a year.