Bear Lake, WI is a small town located in the Midwest. It offers a tranquil and peaceful atmosphere with plenty of outdoor activities for those who love nature. The population of Bear Lake is relatively small, but it has numerous local businesses that help contribute to the economic well-being of the community. These businesses include restaurants, retail stores, and service providers. This low population also puts less strain on the cost of living in Bear Lake compared to other areas. For example, rent for a two bedroom apartment is $900 while the US average is $1,430 for the same size apartment. Additionally, grocery cost index in Bear Lake is 96 compared to 100 in the US as an overall indicator of affordability. All these factors make Bear Lake an attractive place to live for those who are looking for a smaller community with affordable prices.
Bear Lake has an unemployment rate of 5.5%. The US average is 6.0%.
Bear Lake has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Bear Lake
- The Sales Tax Rate for Bear Lake is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Bear Lake is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Bear Lake
- The average income of a Bear Lake resident is $28,013 a year. The US average is $28,555 a year.
- The Median household income of a Bear Lake resident is $73,438 a year. The US average is $69,021 a year.