Detroit, MI (48203) has a two bedroom rent of $970 which is considerably lower than the national average of $1,430. Grocery cost index in Detroit is 88 against the 100 nation-wide index. This means that living in Detroit is quite affordable for those looking to move here. Companies like General Motors, Little Caesars and Quicken Loans all call Detroit their home and offer competitive salaries to people living there. The median household income in Detroit was around $25,732 in 2018 according to census data showing that with its low cost of living, many are able to make ends meet.
Detroit (zip 48203) has an unemployment rate of 9.6%. The US average is 6.0%.
Detroit (zip 48203) has seen the job market decrease by -10.5% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Detroit (zip 48203)
- The Sales Tax Rate for Detroit (zip 48203) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Detroit (zip 48203) is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Detroit (zip 48203)
- The average income of a Detroit (zip 48203) resident is $20,171 a year. The US average is $37,638 a year.
- The Median household income of a Detroit (zip 48203) resident is $29,881 a year. The US average is $69,021 a year.