Grand Rapids, MI (49505) provides an affordable rental option compared to the US as a whole. The median rent for a 2 bedroom apartment in Grand Rapids is $1,180 while the median rent for a 2 bedroom apartment in the US is $1,430. Additionally, living in Grand Rapids is generally cheaper than other parts of the country. The Grocery Cost Index for this area is 95 versus 100 in the US. This means that food prices are 5% lower than nationwide averages. Grand Rapids also has a variety of local companies such as Meijer, Fifth Third Bank and Rockford Construction which provide excellent job opportunities with competitive wages. All of these factors make Grand Rapids an ideal place to live without compromising quality of life or breaking your budget.
Grand Rapids (zip 49505) has an unemployment rate of 6.3%. The US average is 6.0%.
Grand Rapids (zip 49505) has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 35.8%, which is higher than the US average of 33.5%.
Tax Rates for Grand Rapids (zip 49505)
- The Sales Tax Rate for Grand Rapids (zip 49505) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids (zip 49505) is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Grand Rapids (zip 49505)
- The average income of a Grand Rapids (zip 49505) resident is $23,032 a year. The US average is $28,555 a year.
- The Median household income of a Grand Rapids (zip 49505) resident is $59,261 a year. The US average is $69,021 a year.