Farmington Hills, MI (48334) has an average 2 bedroom rent price of $1,630 which is slightly more than the US average of $1,430. The Grocery Cost Index in Farmington Hills is 99 compared to 100 in the US overall. Farmington Hills is located in Oakland County and is home to many notable businesses such as La-Z-Boy Incorporated, Stahl’s Automotive Foundation and Universal Technical Institute of Michigan Inc. Additionally, there are several major shopping centers -- such as West Oaks Mall -- located conveniently within the city limits.
Farmington Hills (zip 48334) has an unemployment rate of 2.3%. The US average is 6.0%.
Farmington Hills (zip 48334) has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 39.0%, which is higher than the US average of 33.5%.
Tax Rates for Farmington Hills (zip 48334)
- The Sales Tax Rate for Farmington Hills (zip 48334) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Farmington Hills (zip 48334) 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 Farmington Hills (zip 48334)
- The average income of a Farmington Hills (zip 48334) resident is $41,788 a year. The US average is $28,555 a year.
- The Median household income of a Farmington Hills (zip 48334) resident is $85,992 a year. The US average is $69,021 a year.