Income & Economy in Caro city, MI (48723)
Median Income
$56,618
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+468
Wealth inflow
Population
11,960
Unemployment
7.0%
3.3pp above US avg
IRS migration statistics show a net inflow of about 468 for ZIP 48723 (Caro city, MI) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 48723 (2020–Present)
Since 2020, population declined 3.0%, median income fell 2.1% (inflation-adjusted), home values increased 21.8%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $56,618 |
| Unemployment | 7.0% |
| Establishments | 287 |
| Employees | 3,895 |