Milan, MI, with a population of just over 8,000, is a small city located in southeastern Michigan. Despite its size, however, Milan is home to several different companies that provide employment opportunities for local residents. Some of these companies include the Milan Automotive Plant (Ford Motor Company), the European American Bakery Company, and the National Weather Service Forecast Office.
The cost of living in Milan is significantly lower than in many other parts of the country. The average 2-bedroom apartment rent is $1,130 while the US average is $1,430. The Grocery Cost Index in Milan is 96 versus 100 in the US. This means that residents can expect to get more for their money when it comes to buying groceries and other everyday items in this area.
Milan (zip 48160) has an unemployment rate of 5.6%. The US average is 6.0%.
Milan (zip 48160) has seen the job market decrease by -7.1% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Milan (zip 48160)
- The Sales Tax Rate for Milan (zip 48160) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Milan (zip 48160) 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 Milan (zip 48160)
- The average income of a Milan (zip 48160) resident is $34,712 a year. The US average is $37,638 a year.
- The Median household income of a Milan (zip 48160) resident is $85,450 a year. The US average is $69,021 a year.