Third Lake, IL is an idyllic small town located approximately 40 miles north of Chicago. It is nestled among forest preserves and lakes, making it a great spot for outdoor activities. Despite its modest size compared to the bustling Windy City, there are still plenty of amenities available in Third Lake. Local companies include hotels like The Lodge at Four Lakes and restaurants such as O’Brien’s Pub & Grill. Because it is so close to downtown Chicago, Third Lake residents can easily take advantage of the city's shopping, entertainment, and professional services while taking refuge in its own small-town charm. Rent costs in Third Lake are slightly higher than the US average, but grocery costs tend to be lower than many other places around the country. All in all, there is much to love about Third Lake and its convenient and cozy lifestyle!
Third Lake has an unemployment rate of 6.4%. The US average is 6.0%.
Third Lake 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 Third Lake
- The Sales Tax Rate for Third Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Third Lake 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 Third Lake
- The average income of a Third Lake resident is $55,022 a year. The US average is $28,555 a year.
- The Median household income of a Third Lake resident is $141,000 a year. The US average is $69,021 a year.