Farwell, Michigan (48622) is a small city located in the northeast part of the state. It has a population of about 2,000 people and is known for its rural charm. The average two bedroom rent in Farwell is $820, which is below the US average of $1,430. Grocery costs in Farwell are also lower than the US average, with a grocery cost index of 91 versus 100 nationally.
In terms of local businesses in Farwell, there are a number of options to choose from. Some popular choices include Wally’s Pizza & Subs for delicious Italian eats, American Saddlery and Tack for equestrian supplies, and Elegant Hair Design for beauty services. Other popular businesses in the area include Oleson's True Value Hardware Store and Autorama Parts & Machine Shop for automotive repair and maintenance needs.
Farwell (zip 48622) has an unemployment rate of 8.1%. The US average is 6.0%.
Farwell (zip 48622) has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for Farwell (zip 48622)
- The Sales Tax Rate for Farwell (zip 48622) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Farwell (zip 48622) 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 Farwell (zip 48622)
- The average income of a Farwell (zip 48622) resident is $25,087 a year. The US average is $37,638 a year.
- The Median household income of a Farwell (zip 48622) resident is $50,722 a year. The US average is $69,021 a year.