Lake Arbor, MD is a great place to live. The 2 bedroom rent averages at $2,220 a month which is slightly higher than the US average of $1,430. Grocery cost index in Lake Arbor is 110 versus 100 in the US which is a small premium for living in the area. Local businesses include convenience stores like 7-Eleven and the nearby grocery store Giant Food. For entertainment options there are local movie theaters and bowling alleys. There are also several restaurants in the area including Domino's Pizza and Five Guys Hamburgers. All of these amenities make Lake Arbor an ideal place to call home. With its variety of local businesses and amenities, Lake Arbor is a great place to live whether it's for a short stay or for years to come.
Lake Arbor has an unemployment rate of 7.8%. The US average is 6.0%.
Lake Arbor has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 34.4%, which is higher than the US average of 33.5%.
Tax Rates for Lake Arbor
- The Sales Tax Rate for Lake Arbor is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lake Arbor is 8.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Arbor
- The average income of a Lake Arbor resident is $41,335 a year. The US average is $28,555 a year.
- The Median household income of a Lake Arbor resident is $110,394 a year. The US average is $69,021 a year.