Silver Lake, IN is a small town outside of Indianapolis with a population under 10,000. It has an affordable cost of living with median 2 bedroom rent at $900 compared to the national average of $1,430. Grocery costs are also very reasonable as Silver Lake's grocery cost index is 90 compared to the US average of 100. The town is growing rapidly and local businesses such as Frye’s Insurance Agency, Silver Lake Automotive, and Donahue’s Hardware & Supply are leading the way in providing quality services and products to residents.
Silver Lake has an unemployment rate of 3.7%. The US average is 6.0%.
Silver Lake has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Silver Lake
- The Sales Tax Rate for Silver Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Silver Lake is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Silver Lake
- The average income of a Silver Lake resident is $16,865 a year. The US average is $28,555 a year.
- The Median household income of a Silver Lake resident is $49,737 a year. The US average is $69,021 a year.