Luther, Michigan is a small town located in the county of Lake with a population of 492 people. It is known for its rustic charm and natural beauty. The two bedroom rent in Luther is $840 which is significantly lower than the US average of $1,430. Its Grocery Cost Index is 90 versus 100 in the US. Local companies that add to Luther's economy include Hoover's Towing & Recovery, Yooper Logger LLC and K&A Mechanical Services Inc. These businesses are focused on providing quality services to their customers, and making sure that local residents have access to the goods and services they need.
Luther (zip 49656) has an unemployment rate of 8.4%. The US average is 6.0%.
Luther (zip 49656) has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Luther (zip 49656)
- The Sales Tax Rate for Luther (zip 49656) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Luther (zip 49656) 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 Luther (zip 49656)
- The average income of a Luther (zip 49656) resident is $23,390 a year. The US average is $37,638 a year.
- The Median household income of a Luther (zip 49656) resident is $47,760 a year. The US average is $69,021 a year.