48234 Detroit, MI is an affordable place to live with median 2 bedroom rent for only $1,040 a month. Residents in this area can also save money on groceries compared to the national average. With a Grocery Cost Index of 88 versus 100 in the US, living in 48234 Detroit, MI can help stretch your dollars further. Local companies such as Meijer Groceries and Dollar General provide quality goods at competitive prices to ensure that residents are getting the best bang for their buck. Shopping locally for groceries is one great way to save money and pay less than the national average cost.
Detroit (zip 48234) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48234) 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 48234)
- The Sales Tax Rate for Detroit (zip 48234) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48234) 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 48234)
- The average income of a Detroit (zip 48234) resident is $13,750 a year. The US average is $28,555 a year.
- The Median household income of a Detroit (zip 48234) resident is $33,583 a year. The US average is $69,021 a year.