Lake Summerset, IL is a residential area located in northern Illinois. It offers affordable rental prices for two bedroom units, with an average of $1,050 compared to the US average of $1,430. It is also relatively inexpensive for groceries when compared to the rest of the country with a grocery cost index of 93 versus 100 in the US. The area is surrounded by parks which makes it great for outdoor activities such as camping and fishing as well as providing easy access to nature trails. Companies such as Rock Valley Credit Union and Dutch Harbor offer jobs within the community while attractions such as Lake Summerset Marina and Boat Rentals and Fox River Recreation Area provide entertainment options for locals and visitors alike.
Lake Summerset has an unemployment rate of 8.1%. The US average is 6.0%.
Lake Summerset has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 23.5%, which is lower than the US average of 33.5%.
Tax Rates for Lake Summerset
- The Sales Tax Rate for Lake Summerset is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Lake Summerset is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Summerset
- The average income of a Lake Summerset resident is $36,903 a year. The US average is $37,638 a year.
- The Median household income of a Lake Summerset resident is $93,385 a year. The US average is $69,021 a year.