The Detroit neighborhood of 48216 is an affordable area to live. The average two bedroom rent in this zip code is $1,010, which is much lower than the U.S. average for two bedroom rent of $1,430. Groceries are also relatively inexpensive in this area; the Grocery Cost Index here is 92 compared to 100 for the US as a whole. Local businesses in this area include Chene Bakery, a family-owned bakery that has been serving fresh breads and pastries since 1958; Savvy Chic Boutique & Beauty Bar, a fashion boutique and beauty bar offering stylish apparel and beauty services; and Detroit Training Center, an automotive training center that provides employment opportunities to adults in Detroit. With its affordability and excellent local businesses, 48216 Detroit neighborhood offers residents many great benefits.
Detroit (zip 48216) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48216) 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 48216)
- The Sales Tax Rate for Detroit (zip 48216) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48216) 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 48216)
- The average income of a Detroit (zip 48216) resident is $16,960 a year. The US average is $28,555 a year.
- The Median household income of a Detroit (zip 48216) resident is $38,844 a year. The US average is $69,021 a year.