49885 Skandia, MI is a rural town located in the Upper Peninsula of Michigan. With a population of just 781 people, it is a small but thriving community whose economy is largely based upon local businesses such as Sutherlin Logging & Construction Company, Les McPherson Automotive, and Northern Outdoorsman Outfitters. The cost of living in 49885 Skandia, MI is quite reasonable given its size; two bedroom rent in the area averages around $900 per month compared to the US average of $1,430 per month. Grocery costs are also relatively low here with a grocery cost index of 92 versus 100 in the US. This makes 49885 Skandia, MI an affordable place to live with plenty of local business opportunities available.
Skandia (zip 49885) has an unemployment rate of 5.9%. The US average is 6.0%.
Skandia (zip 49885) has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Skandia (zip 49885)
- The Sales Tax Rate for Skandia (zip 49885) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Skandia (zip 49885) 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 Skandia (zip 49885)
- The average income of a Skandia (zip 49885) resident is $24,010 a year. The US average is $28,555 a year.
- The Median household income of a Skandia (zip 49885) resident is $66,827 a year. The US average is $69,021 a year.