Lorain, WI is a small town located in the state of Wisconsin. It is known for its close-knit community and rural charm. The cost of living in Lorain is lower than the national average, with two bedroom rent at $940 per month and grocery costs indexing at 95 compared to 100 in the US. Local businesses that attract visitors are Tootle’s Country Store, Riverview Dairy, and Anderson’s Flooring and Carpet with their knowledgeable staff and quality products. For recreational activities, there are plenty of outdoor parks such as River Street Park or Dave’s Creek Park where people can run, bike or simply take a stroll on a sunny day. There are also several golf courses nearby to enjoy a round of golf on a weekend afternoon.
Lorain has an unemployment rate of 6.1%. The US average is 6.0%.
Lorain has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 32.5%, which is lower than the US average of 33.5%.
Tax Rates for Lorain
- The Sales Tax Rate for Lorain is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Lorain 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 Lorain
- The average income of a Lorain resident is $21,557 a year. The US average is $28,555 a year.
- The Median household income of a Lorain resident is $55,833 a year. The US average is $69,021 a year.