Lake City, CO is a small city with a population of around 5000 people. It is a great place to live due to its low cost of living. The average 2 bedroom rent in Lake City, CO is $1,310 whereas the US 2 Bedroom Rent on average is $1,430. Additionally, Grocery Cost Index in Lake City is 108 compared to 100 in the US. Local companies like Walmart and Target are available for shopping needs and other amenities. All these features make Lake City an attractive place to live as it has lower costs than most cities in the US.
Lake City has an unemployment rate of 7.3%. The US average is 6.0%.
Lake City has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 43.1%, which is higher than the US average of 33.5%.
Tax Rates for Lake City
- The Sales Tax Rate for Lake City is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Lake City is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake City
- The average income of a Lake City resident is $39,031 a year. The US average is $28,555 a year.
- The Median household income of a Lake City resident is $52,250 a year. The US average is $69,021 a year.