Silver Lake, NC is a quaint community with a variety of local businesses providing services for its residents. Popular companies in Silver Lake include the Silver Lake Hardware Store, the Silver Lake Cafe, and the Silver Lake Novelty Shop. The cost of living in Silver Lake is quite affordable compared to other areas of the country. Rent for a two-bedroom apartment is only $1,320 whereas the US average rent for a two-bedroom unit is $1,430. Moreover, there is only a minimal difference between grocery costs in Silver Lake and the national average; with an index score of 100 versus 100 in the US. With its affordable prices and abundance of local businesses, it's no wonder that many people choose to call Silver Lake home.
Silver Lake has an unemployment rate of 4.1%. The US average is 6.0%.
Silver Lake has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 37.5%, 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 5.5%. 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 $20,408 a year. The US average is $28,555 a year.
- The Median household income of a Silver Lake resident is $74,785 a year. The US average is $69,021 a year.