Lake Forest, CA is a beautiful city located in southern California. With its close proximity to beaches, mountains, and great shopping centers, it is no wonder that many people choose to live here. The local economy is strong due to the presence of some well-known businesses such as BMW, Capistrano Toyota, and Lake Forest Hyundai. In terms of cost of living, 2 Bedroom rent in Lake Forest comes out to $2,850 compared to the US average of $1,430. Grocery costs are also higher with an index score of 104 versus the US score of 100. All in all though, Lake Forest is a great place to call home for its residents with ample opportunities for work and recreation.
Lake Forest has an unemployment rate of 5.6%. The US average is 6.0%.
Lake Forest has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 34.8%, which is higher than the US average of 33.5%.
Tax Rates for Lake Forest
- The Sales Tax Rate for Lake Forest is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Lake Forest is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Forest
- The average income of a Lake Forest resident is $38,760 a year. The US average is $28,555 a year.
- The Median household income of a Lake Forest resident is $117,374 a year. The US average is $69,021 a year.