The Detroit, MI 48208 neighborhood is a great location for individuals and families looking for an affordable place to live. With two bedroom rents currently at $1,020, this area is more than 10% cheaper than the national average of $1,430. Similarly, the grocery cost index in 48208 is 90 compared to 100 in the US. This indicates that groceries are approximately 10% cheaper here than elsewhere in the country. With a population of over 21,000 people, the area has plenty to offer including several large employers such as Ford Motor Company, General Motors Corporation, Quicken Loands Inc., DTE Energy and Blue Cross Blue Shield of Michigan. There are also several independent business and small offices located throughout the neighborhood.
Detroit (zip 48208) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48208) has seen the job market decrease by -10.5% 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 48208)
- The Sales Tax Rate for Detroit (zip 48208) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48208) 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 48208)
- The average income of a Detroit (zip 48208) resident is $25,259 a year. The US average is $37,638 a year.
- The Median household income of a Detroit (zip 48208) resident is $23,827 a year. The US average is $69,021 a year.