49847 Hermansville, MI is a small town located in the Upper Peninsula of Michigan that offers affordable living for both families and individuals looking to settle down. The average rent for a 2-bedroom apartment in Hermansville is $850, which is significantly lower than the national average of $1,430. Grocery costs in Hermansville are also relatively cheaper with a cost index of 90 compared to 100 nationwide.
49847 Hermansville, MI has a variety of local businesses providing essential goods and services to its residents. Joseph's Place is a popular restaurant in town that offers classic American fare such as burgers and fries at an affordable price. Gamache & Sons Auto Repair is another business that provides auto repair services from oil change to engine repairs all at competitive prices. Other companies include The Flower Barn offering fresh flowers for any occasion, Dickson Excavating which provides professional excavating and grading services, and Ransome Logging Co., specializing in log hauling, land clearing and firewood sales. With these businesses, Hermansville gives its citizens plenty of options for goods and services they may need.
Hermansville (zip 49847) has an unemployment rate of 4.7%. The US average is 6.0%.
Hermansville (zip 49847) has seen the job market decrease by -5.4% over the last year. Future job growth over the next ten years is predicted to be 14.7%, which is lower than the US average of 33.5%.
Tax Rates for Hermansville (zip 49847)
- The Sales Tax Rate for Hermansville (zip 49847) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hermansville (zip 49847) 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 Hermansville (zip 49847)
- The average income of a Hermansville (zip 49847) resident is $30,078 a year. The US average is $37,638 a year.
- The Median household income of a Hermansville (zip 49847) resident is $63,309 a year. The US average is $69,021 a year.