Washington Island, WI is a small island located in Lake Michigan. It has a population of just over 500 residents and the median home value is $274,200. A two-bedroom rental in this area costs around $950 which is significantly lower than the US average of $1,430. The cost of living on the island is also lower than the US average with the grocery cost index being 99 versus 100 in the US. Washington Island offers many local businesses such as Chords Marine, Northport Marina, and Shurge & Son Contractors that provide services to those who live or plan to visit this picturesque escape from city life.
Washington Island (zip 54246) has an unemployment rate of 7.4%. The US average is 6.0%.
Washington Island (zip 54246) has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 35.5%, which is higher than the US average of 33.5%.
Tax Rates for Washington Island (zip 54246)
- The Sales Tax Rate for Washington Island (zip 54246) is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Washington Island (zip 54246) is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Washington Island (zip 54246)
- The average income of a Washington Island (zip 54246) resident is $30,341 a year. The US average is $28,555 a year.
- The Median household income of a Washington Island (zip 54246) resident is $61,250 a year. The US average is $69,021 a year.