Lockwood, California is a small town located in Monterey County. It is home to many local businesses such as Lockwood Market, Lockwood General Store, and Ospreys Bakery. The cost of living in Lockwood is relatively high due to rent being considerably higher than the national average. As of 2020, two bedroom rent in Lockwood averaged $1,790, whereas the US average was only $1,430. Additionally, the Grocery Cost Index in Lockwood was 102 compared to 100 nationally. Despite this slightly elevated cost of living, many people choose to live in Lockwood due to its close proximity to larger cities like Salinas and beautiful views of Monterey County.
Lockwood (Monterey County) has an unemployment rate of 10.4%. The US average is 6.0%.
Lockwood (Monterey County) has seen the job market decrease by -8.1% over the last year. Future job growth over the next ten years is predicted to be 27.1%, which is lower than the US average of 33.5%.
Tax Rates for Lockwood (Monterey County)
- The Sales Tax Rate for Lockwood (Monterey County) is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Lockwood (Monterey County) 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 Lockwood (Monterey County)
- The average income of a Lockwood (Monterey County) resident is $37,085 a year. The US average is $37,638 a year.
- The Median household income of a Lockwood (Monterey County) resident is $0 a year. The US average is $69,021 a year.