Lakewood, CA is a beautiful city located in the Los Angeles County with plenty of entertainment, restaurants, and cultural activities. Lakewood also has a wide variety of local businesses such as banks, grocery stores, and retail shops. The cost of living in Lakewood is higher than the US average with rent for a two bedroom apartment costing around $2,800 per month. Additionally grocery costs are also higher with an index of 102 compared to 100 in the US. Despite this, many people choose to live in Lakewood due to its close proximity to Los Angeles and its many amenities.
Lakewood has an unemployment rate of 10.6%. The US average is 6.0%.
Lakewood has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 33.6%, which is higher than the US average of 33.5%.
Tax Rates for Lakewood
- The Sales Tax Rate for Lakewood is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Lakewood is 9.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lakewood
- The average income of a Lakewood resident is $29,981 a year. The US average is $28,555 a year.
- The Median household income of a Lakewood resident is $102,163 a year. The US average is $69,021 a year.