Honor, with a population of 49640 in Michigan, is an affordable place to live and work. The average 2 bedroom rent price in Honor is $1,040 compared to the US average of $1,430. This makes it an attractive option for those looking for a cheaper place to live while still having access to quality amenities. Additionally, the grocery cost index in Honor is 96 compared to the US average of 100. This allows residents to save money on everyday groceries and necessities. With all this in mind, there are plenty of local companies for residents of Honor to take advantage of. One example is Cherryland Electric Cooperative Inc., which offers electric service for both residential and commercial customers in northern Michigan. Another local business is Kalkaska Sand & Gravel Co., which provides sand and gravel products for construction projects throughout the region. Finally, Ironworks Construction provides custom Steel Buildings and Structural Steel services tailored specifically to customer needs and specifications. These are just a few examples of the many local businesses available in Honor for residents seeking employment or services.
Honor (zip 49640) has an unemployment rate of 6.9%. The US average is 6.0%.
Honor (zip 49640) has seen the job market decrease by -6.7% over the last year. Future job growth over the next ten years is predicted to be 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Honor (zip 49640)
- The Sales Tax Rate for Honor (zip 49640) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Honor (zip 49640) 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 Honor (zip 49640)
- The average income of a Honor (zip 49640) resident is $38,043 a year. The US average is $37,638 a year.
- The Median household income of a Honor (zip 49640) resident is $68,750 a year. The US average is $69,021 a year.