Timber Lakes, UT is an attractive residential area located in the Wasatch Mountains. With its natural beauty and peaceful atmosphere, Timber Lakes has become a popular place to move to for those looking for a quieter environment. The two bedroom rent in Timber Lakes is slightly higher than the US average at $1,750, but with the lower cost of living as indicated by the Grocery Cost Index of 97 against 100 in the US, it offers good value for money. The local economy is supported by businesses such as Amber Scoops ice cream parlor, Granite State Outfitters camping supplies store, and Snow Valley Ski Resort. All together these companies provide quality services that draw people into Timber Lakes from nearby cities.
Timber Lakes has an unemployment rate of 3.0%. The US average is 6.0%.
Timber Lakes has seen the job market increase by 3.8% over the last year. Future job growth over the next ten years is predicted to be 54.6%, which is higher than the US average of 33.5%.
Tax Rates for Timber Lakes
- The Sales Tax Rate for Timber Lakes is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Timber Lakes is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Timber Lakes
- The average income of a Timber Lakes resident is $24,506 a year. The US average is $28,555 a year.
- The Median household income of a Timber Lakes resident is $41,633 a year. The US average is $69,021 a year.