The small town of Lexington, Michigan (zip code 48450) has a population of about 1000 people. The cost of rent for a two-bedroom home in Lexington is much lower than the national average at just $800 per month. Likewise, grocery costs are also lower than the national average with an index of 93 compared to the US average of 100. Within this picturesque rural community, locals have access to amenities such as Hunter's Bar and Grill, The Lazy Goat Saloon & Eatery and several small restaurants for dining out. Residents can pick up groceries at the local grocery store or Farmer's Market where they can buy fresh fruits and vegetables from local farmers. In addition, Lexington is conveniently located close to Saginaw Bay and Lake Huron for outdoor recreation.
Lexington (zip 48450) has an unemployment rate of 6.4%. The US average is 6.0%.
Lexington (zip 48450) has seen the job market decrease by -5.5% over the last year. Future job growth over the next ten years is predicted to be 23.1%, which is lower than the US average of 33.5%.
Tax Rates for Lexington (zip 48450)
- The Sales Tax Rate for Lexington (zip 48450) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lexington (zip 48450) 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 Lexington (zip 48450)
- The average income of a Lexington (zip 48450) resident is $33,409 a year. The US average is $37,638 a year.
- The Median household income of a Lexington (zip 48450) resident is $50,181 a year. The US average is $69,021 a year.