Lake City, FL, is a beautiful town in Northern Florida that offers an affordable cost of living. It’s two bedroom rent averages out to be $910, meaning tenants can save up to $520 compared to the US average of $1,430. Grocery cost index also reflects Lake City’s more affordable option, with 97 compared to 100 in the US. The city is home to many local companies like Suwannee River Water Management District and AgCenter Research & Education Center as well as attractions such as Alligator Lake Park and Olustee Park.
Lake City has an unemployment rate of 4.9%. The US average is 6.0%.
Lake City has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 30.5%, which is lower than the US average of 33.5%.
Tax Rates for Lake City
- The Sales Tax Rate for Lake City is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lake City is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake City
- The average income of a Lake City resident is $19,026 a year. The US average is $28,555 a year.
- The Median household income of a Lake City resident is $43,396 a year. The US average is $69,021 a year.