49622 Central Lake, MI is a small town situated in north-western Michigan with a population of around 1,000 people. It is known for its lush woods and scenic beauty, attracting both locals and tourists alike. The 2 bedroom rent in Central Lake is $860, which is significantly lower than the US 2 bedroom rent of $1,430. Additionally, the grocery cost index in Central Lake stands at 93 compared to 100 in the US.
Central Lake has a number of local businesses that cater to the needs of its residents; some of them include Martinson Hardware Co., Yoder's Market & Bakery, and Northern Trading Post. Martinson Hardware Co. offers a variety of home improvement products and services while Yoder’s Market & Bakery sells fresh produce and baked goods from local farms. Northern Trade Post offers handcrafted items such as jewelry, pottery and quilts. These companies provide much needed employment opportunities to the people of Central Lake and help keep its economy vibrant.
Central Lake (zip 49622) has an unemployment rate of 7.8%. The US average is 6.0%.
Central Lake (zip 49622) has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 30.8%, which is lower than the US average of 33.5%.
Tax Rates for Central Lake (zip 49622)
- The Sales Tax Rate for Central Lake (zip 49622) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Central Lake (zip 49622) 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 Central Lake (zip 49622)
- The average income of a Central Lake (zip 49622) resident is $24,041 a year. The US average is $28,555 a year.
- The Median household income of a Central Lake (zip 49622) resident is $53,325 a year. The US average is $69,021 a year.