Grand Rapids, Michigan is home to many local businesses. The cost of rent for a 2 bedroom apartment in Grand Rapids is $1,140, which is slightly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Grand Rapids is 93 versus the US average of 100. Local companies within Grand Rapids consist of Steelcase, Amway Corporation, and Gordon Food service among others. Steelcase is a leader in furniture manufacturing that has been operating since 1912 and provides workplace solutions to customers around the world. Amway Corporation produces consumer products ranging from health care supplies to food products and have become one of the largest multi-level marketing companies in the world. Lastly Gordon Food Service is one of North America's largest food services with over 170 years of experience providing dining services to restaurants and other establishments.
Grand Rapids (zip 49507) has an unemployment rate of 6.3%. The US average is 6.0%.
Grand Rapids (zip 49507) 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 49507)
- The Sales Tax Rate for Grand Rapids (zip 49507) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids (zip 49507) 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 49507)
- The average income of a Grand Rapids (zip 49507) resident is $20,965 a year. The US average is $37,638 a year.
- The Median household income of a Grand Rapids (zip 49507) resident is $47,216 a year. The US average is $69,021 a year.