Retire in Grand Rapids

Affordability

Find out how much it costs to live in Grand Rapids.

Cost of Living

With an average state sales tax rate and no social security tax, Michigan receives a "Mixed" tax rating from Kiplinger. Grand Rapids also has a lower cost of living than the national average, making for an affordable location for those retirees looking to stretch their dollars.

Kiplinger Rating:

Mixed

State Income Tax:

Social Security Tax?

None

County + State Sales Tax

6%

Property Tax Rate *

0.9%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

1411

* 2008-2010

Cost of Living Index (100=average):

93

Housing + transportation costs as % of income:

50%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Mixed

Tax burden: % income going to state and local taxes:

9.6%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Mixed

Property Tax Break for Seniors (per Kiplinger):

Some seniors, disabled persons, veterans, surviving spouses of veterans and farmers may be able to delay paying property taxes, depending on the county of residence and income level

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

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Real Estate overview not available for Grand Rapids

To learn more about real estate in Grand Rapids book a visit and we'll help you find the right place to live.

Work Potential

With a very low unemployment rate for individuals over 65, Grand Rapids provides opportunity for those who want to work post relocation. Those with healthcare experience are in especially good hands, as Spectrum Health is one of the largest companies in the area. Some other potential employers include Meijer, Axios, and Spartan Stores.

  • Area
  • National Average

5 Largest Companies

  • Spectrum Health
  • Meijer
  • Axios
  • Spartan Stores
  • Mercy General Health Partners

GDP Growth Last 3 Years

12.4%

Income Growth Last 3 Years

6.6%

Employment Growth Last 3 Years

7.8%

Top Industries Hiring

  • Manufacturing
  • Health care and social assistance
  • Administrative and waste management services
  • Retail trade
  • Transportation and warehousing

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

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