Trout Lake, Michigan is a small rural town in the Upper Peninsula with a population of 497. It offers residents a tranquil, peaceful lifestyle and regular outdoor activities. The average two-bedroom rent is $900 which is much lower than the national average of $1,430. Grocery shopping is also more affordable in Trout Lake; according to Cost of Living Index, it's 91 compared to 100 in the US. There are several local stores that make groceries accessible and affordable to residents such as Family Farms Market and Dollar General. Overall Trout Lake has an incredibly low cost of living that makes it attractive for retirees looking for a more relaxed environment or young families who want to take advantage of this small town living.
Trout Lake (zip 49793) has an unemployment rate of 7.3%. The US average is 6.0%.
Trout Lake (zip 49793) has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 18.9%, which is lower than the US average of 33.5%.
Tax Rates for Trout Lake (zip 49793)
- The Sales Tax Rate for Trout Lake (zip 49793) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Trout Lake (zip 49793) 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 Trout Lake (zip 49793)
- The average income of a Trout Lake (zip 49793) resident is $19,288 a year. The US average is $28,555 a year.
- The Median household income of a Trout Lake (zip 49793) resident is $60,500 a year. The US average is $69,021 a year.