Lakewood, IL is a great place to live for many reasons. The 2 bedroom rent in Lakewood is $1,510 which is slightly higher than the US average of $1,430. Additionally, the grocery cost index in Lakewood is 97 which is slightly lower than the U.S. average of 100. This makes living in Lakewood more affordable. Lakewood has several local companies that make it an attractive place to live including B&M Automotive Services, Inc., Narrow Path Salon & Spa, and Trinity Lutheran Church & School. These businesses provide goods and services to people living in the area as well as providing jobs and opportunities for growth. Overall, Lakewood is a great place to live with an affordability rating and plenty of local businesses offering goods and services that make life easier for its residents.
Lakewood has an unemployment rate of 5.9%. The US average is 6.0%.
Lakewood has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 27.6%, which is lower than the US average of 33.5%.
Tax Rates for Lakewood
- The Sales Tax Rate for Lakewood is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lakewood 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 Lakewood
- The average income of a Lakewood resident is $51,687 a year. The US average is $28,555 a year.
- The Median household income of a Lakewood resident is $156,477 a year. The US average is $69,021 a year.