“Detroit ranks in the top echelon of cities when it comes to enabling workers to keep more of what they earn,“ said Michael Pao, co-founder of Trove Technologies, Inc. “Our research finds that Detroit blows away the the rest of the country in terms of affordability, with housing expenses coming in at 28% lower than the national average and non-housing expenses 7% lower.”
Some of the major findings for Detroit – and Michigan generally – include the following:
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Detroit ranks #5 among major cities nationwide for discretionary income across all occupations.
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Salaries in Detroit are 3.5% higher than the national average, housing expenses are 27.9% lower, and non-housing expenses 6.7% lower.
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Detroit ranks highly among major cities for these professions: Installation, Maintenance, and Repair (rank #2), Production (#3), Arts, Design, Entertainment, Sports, and Media (#4), and Transportation and Material Moving (#5).
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Michigan ranks #1 out of all states for discretionary income.
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Salaries across all occupations in Michigan are 1.2% lower than the national average, while housing expenses are 32.4% lower and non-housing expenses 8.2% lower.
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Five cities in Michigan are ranked in the top 10 small cities for discretionary income. The top states and cities across the US for discretionary income are:
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Methodology
The data underlying this analysis is from the Bureau of Labor Statistics, The Tax Foundation, and The Council For Community and Economic Research. Using a proprietary algorithm, Trove developed the tool and map. The full methodology is outlined here.
What is Trove Technologies?
Trove is a technology company that helps customers pack, move and store personal and household items, as well as maximize excess inventory of small, locally based moving companies. Trove provides best-in-class service including packing, inventory, moving and storage, as well as a web-based catalog of a customer’s items.
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