Powers, Michigan (4987) is a small town located in the Upper Peninsula of Michigan. The population is estimated to be around 250 people. Rent for two-bedroom apartments in Powers is relatively inexpensive compared to the rest of the United States, at $720 per month. Grocery costs are also lower than average, with an index of 91 versus 100 in the US.
The local economy is mainly driven by agriculture and forestry industries. There are also several small businesses located in the area that residents frequently patronize, such as Powers Husky Mart, Country Kettle Restaurant, and Sengbusch Hardware. Overall, Powers is an affordable area to live with plenty of job opportunities in the nearby areas.
Powers (zip 49874) has an unemployment rate of 4.7%. The US average is 6.0%.
Powers (zip 49874) has seen the job market decrease by -5.4% over the last year. Future job growth over the next ten years is predicted to be 14.7%, which is lower than the US average of 33.5%.
Tax Rates for Powers (zip 49874)
- The Sales Tax Rate for Powers (zip 49874) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Powers (zip 49874) 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 Powers (zip 49874)
- The average income of a Powers (zip 49874) resident is $28,801 a year. The US average is $37,638 a year.
- The Median household income of a Powers (zip 49874) resident is $56,563 a year. The US average is $69,021 a year.