Laketon, MI is a small city located in Michigan that offers affordable housing, with average 2 bedroom rent costing $1,040 whereas the U.S average is $1,430. This makes it an ideal location for those looking to live in a city while keeping their expenses low. The grocery cost index in Laketon is 94 versus 100 in the US which further contributes towards its inexpensive cost of living. Notable companies operating in the area include: IGT Solutions Inc., Amazon, Siemens PLM Software Inc and Krantech Technologies Inc. All these factors make Laketon a great place to live and work for people looking to save money on their living expenses without compromising on quality of life.
Laketon has an unemployment rate of 7.5%. The US average is 6.0%.
Laketon 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 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Laketon
- The Sales Tax Rate for Laketon is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Laketon is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Laketon
- The average income of a Laketon resident is $29,875 a year. The US average is $28,555 a year.
- The Median household income of a Laketon resident is $82,500 a year. The US average is $69,021 a year.