48073 Royal Oak, MI is located in Oakland County and is one of the most desirable cities to live in the area. The 2 bedroom rent in the city is slightly cheaper than the national average at $1,390 compared to $1430. Additionally, 48073 has a lower grocery cost index than the US with 98 versus 100. There are several local companies in this area including United Shore Financial Services, Beaumont Health System, Bosch North America Automotive Aftermarket, and Continental Automotive Systems US Inc. All these companies provide employment opportunities to residents of 48073 Royal Oak.
Royal Oak (zip 48073) has an unemployment rate of 2.2%. The US average is 6.0%.
Royal Oak (zip 48073) 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 39.7%, which is higher than the US average of 33.5%.
Tax Rates for Royal Oak (zip 48073)
- The Sales Tax Rate for Royal Oak (zip 48073) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Royal Oak (zip 48073) 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 Royal Oak (zip 48073)
- The average income of a Royal Oak (zip 48073) resident is $49,181 a year. The US average is $37,638 a year.
- The Median household income of a Royal Oak (zip 48073) resident is $82,049 a year. The US average is $69,021 a year.