Lake Zurich, IL is a beautiful suburb located in the northwest part of Chicago. It offers a lot of cultural activities and amenities to residents and visitors alike. The cost of living in Lake Zurich is slightly higher than the national average, with an average two bedroom rent costing $1,990 compared to only $1,430 nationally. Additionally, the grocery cost index is 102 versus 100 in the US.
The city boasts plenty of attractions for all ages including family-friendly restaurants like Mellow Mushroom and Old Orchard Inn & Bistro. There are also shopping locations such as the Lake Zurich Village Square Shopping Center and Deer Park Town Center. Other activities available range from golfing at the Bonnie Brook Golf Course to taking a stroll through Paulus Park Farm & Garden. Local businesses in Lake Zurich include Wilmette Sports & Fitness, Lakeland Plastics Inc, and National Equity Partners Inc., making it attractive to those seeking employment opportunities close to home.
Lake Zurich has an unemployment rate of 6.4%. The US average is 6.0%.
Lake Zurich has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 32.8%, which is lower than the US average of 33.5%.
Tax Rates for Lake Zurich
- The Sales Tax Rate for Lake Zurich is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lake Zurich 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 Zurich
- The average income of a Lake Zurich resident is $41,168 a year. The US average is $28,555 a year.
- The Median household income of a Lake Zurich resident is $118,139 a year. The US average is $69,021 a year.