Lost Lake Woods, MI is a small town situated near the lake in Michigan. It is home to a variety of local businesses such as the Lost Lake Woods Grocery Store, Bob's Appliances, and Dave's Pizza Parlor. Despite being a rural area, Lost Lake Woods offers an ideal balance between affordability and accessibility for those looking to settle in an area with low rent and cost of living. The average two bedroom rent in Lost Lake Woods comes to $820 which is significantly lower than the US average of $1,430. Similarly, the Grocery Cost Index in Lost Lake Woods is 91 versus 100 in the US. This indicates that groceries are much cheaper in this location than they are on average across America. All these factors combined make Lost Lake Woods an attractive option for those looking for an affordable place to live.
Lost Lake Woods has an unemployment rate of 7.4%. The US average is 6.0%.
Lost Lake Woods 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 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Lost Lake Woods
- The Sales Tax Rate for Lost Lake Woods is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lost Lake Woods 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 Lost Lake Woods
- The average income of a Lost Lake Woods resident is $31,906 a year. The US average is $28,555 a year.
- The Median household income of a Lost Lake Woods resident is $56,295 a year. The US average is $69,021 a year.