Spring Lake, NC is a great place to live due to its affordability. It has an average 2 bedroom rent of $1,080 which is substantially below the US average at $1,430. Grocery costs are also lower in Spring Lake as evidenced by a grocery cost index of 95 compared to the US index of 100. Local companies such as OX Industries, South Central Construction Company and Ticom Geomatics contribute to the city's economic growth and job market stability. While many cities in the US may be more expensive than Spring Lake, those living and working in this small town find that it still has plenty to offer in terms of cost savings and quality of life.
Spring Lake has an unemployment rate of 6.5%. The US average is 6.0%.
Spring Lake has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 30.0%, which is lower than the US average of 33.5%.
Tax Rates for Spring Lake
- The Sales Tax Rate for Spring Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Spring 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 Spring Lake
- The average income of a Spring Lake resident is $16,365 a year. The US average is $28,555 a year.
- The Median household income of a Spring Lake resident is $39,659 a year. The US average is $69,021 a year.