48201 Detroit, MI is a vibrant part of the city with plenty of opportunities for those looking to rent or buy here. The area offers two bedroom apartments for an average rent of $1,060 per month which is significantly lower than the US average rent of $1,430. Grocery costs in 48201 are also lower than the national average at 93 index versus 100 in the US across all items. There are many local companies in 48201 such as Quicken Loans, Ford Motor Company and Detroit Medical Center that offer excellent job prospects. Overall, 48201 Detroit offers a low cost of living providing excellent value for money in terms of housing and groceries.
Detroit (zip 48201) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48201) has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Detroit (zip 48201)
- The Sales Tax Rate for Detroit (zip 48201) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48201) is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Detroit (zip 48201)
- The average income of a Detroit (zip 48201) resident is $16,479 a year. The US average is $28,555 a year.
- The Median household income of a Detroit (zip 48201) resident is $21,180 a year. The US average is $69,021 a year.