Zip 48371 (Oxford, MI) Economy


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Oxford, MI is a small city in Michigan with a population of 48371. The average cost of rent for a two bedroom apartment here is $1,170 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Oxford is 99 versus 100 in the US, making it an affordable place to live. The city has seen recent economic revitalization and now supports several local businesses such as Oxford Appliance Inc., Tuffy Tire & Auto Service Center, and Motor City Realty. These companies offer services like appliance repair and sale, auto service repair and sale, and real estate brokerage respectively. With its low cost of living and local businesses available to support residents' needs, Oxford is an ideal place to call home.

Oxford (zip 48371) has an unemployment rate of 3.5%. The US average is 6.0%.

Oxford (zip 48371) has seen the job market decrease by -10.6% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.

Tax Rates for Oxford (zip 48371)
- The Sales Tax Rate for Oxford (zip 48371) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Oxford (zip 48371) 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 Oxford (zip 48371)
- The average income of a Oxford (zip 48371) resident is $43,009 a year. The US average is $37,638 a year.
- The Median household income of a Oxford (zip 48371) resident is $100,872 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyOxford, MichiganUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
    Unlock4.6%
    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
Reviews for Oxford
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We are a young family and moved here 1 year ago from further North. Michigan has really gone down hill economically as a whole, and that is evident in Oxford. On the  More

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