New Lothrop, Michigan (48460) is a small town located in Shiawassee County. It's most recent population was reported to be 794 people during the 2020 census. Despite its small size, New Lothrop offers a variety of amenities for its residents. Two bedroom rents are approximately $830 per month, which is significantly lower than the national average of $1,430. The local grocery cost index is 94 compared to the national average of 100, making it an affordable place to live.
The town has many local businesses that offer services to its citizens such as Landmark-Henderson Printing & Mailing Services Inc., Open Door Family Medical Center, and J & B Automotive LLC. Residents can also enjoy various outdoor activities at nearby riverside parks like Windemere Park or take time to relax at one of the many scenic lakes in the area like Crystal Lake and Rose Lake State Wildlife Area. With all of these features and more, it’s no wonder why New Lothrop is an ideal place to call home.
New Lothrop (zip 48460) has an unemployment rate of 5.6%. The US average is 6.0%.
New Lothrop (zip 48460) has seen the job market decrease by -7.0% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for New Lothrop (zip 48460)
- The Sales Tax Rate for New Lothrop (zip 48460) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for New Lothrop (zip 48460) 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 New Lothrop (zip 48460)
- The average income of a New Lothrop (zip 48460) resident is $35,917 a year. The US average is $37,638 a year.
- The Median household income of a New Lothrop (zip 48460) resident is $74,632 a year. The US average is $69,021 a year.