Grand Rapids, Michigan is a vibrant urban area located in Ottawa County. It is the second largest city in Michigan, with an estimated population of 197,800. The city is home to several major companies, such as Meijer, Steelcase, and Amway Corp. It is also renowned for its diverse economy, which includes health care, technology services, retail and manufacturing. Grand Rapids’ cost of living index is lower than the US average; 2 bedroom rent in the area is $1,170 compared to $1,430 nationally. Grocery costs are also lower than average at 95 compared to 100 in the US. Residents can access local resources through the Grand Rapids Public Library or the Office of Community Services & Civic Engagement where they can find assistance with employment opportunities or community initiatives.
Grand Rapids (zip 49504) has an unemployment rate of 6.3%. The US average is 6.0%.
Grand Rapids (zip 49504) has seen the job market decrease by -6.2% 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 49504)
- The Sales Tax Rate for Grand Rapids (zip 49504) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids (zip 49504) 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 49504)
- The average income of a Grand Rapids (zip 49504) resident is $29,773 a year. The US average is $37,638 a year.
- The Median household income of a Grand Rapids (zip 49504) resident is $57,413 a year. The US average is $69,021 a year.