Spirit Lake, IA is a small city located in northwest Iowa. It is home to around 5,000 people and provides an abundance of nature that attracts many visitors. Residents enjoy the great quality of life Spirit Lake offers with its low cost of living. The average two bedroom rent in Spirit Lake is $930 per month while the US average is $1,430 making it more affordable for residents. The grocery cost index in Spirit Lake is 99 compared to 100 in the US, making it more economical to purchase food. Locals find entertainment at nearby attractions such as Fantasy Cave or Okoboji Beach on West Okoboji Lake. Major companies located in Spirit Lake are Availa Bank and Precision Filter Incorporated as well as several smaller businesses. Residents can also go online for local resources from the City of Spirit Lake website or get assistance from the local Chamber of Commerce.
Spirit Lake has an unemployment rate of 4.9%. The US average is 6.0%.
Spirit Lake has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 26.4%, which is lower than the US average of 33.5%.
Tax Rates for Spirit Lake
- The Sales Tax Rate for Spirit Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Spirit Lake is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Spirit Lake
- The average income of a Spirit Lake resident is $29,589 a year. The US average is $28,555 a year.
- The Median household income of a Spirit Lake resident is $56,490 a year. The US average is $69,021 a year.