Silver Lake, KS is a small town located in the Midwest of the United States. Known for its affordability, Silver Lake offers two bedroom apartments at an average rent of around $800 per month, which is much lower than the national average rent of $1,430. Additionally, grocery costs are more affordable in Silver Lake compared to the US as a whole; with a Grocery Cost Index (GCI) of 97 versus 100 in the US. The low cost of living makes Silver Lake an attractive option for those looking to settle down away from big cities while still finding plenty of amenities and job opportunities.
Silver Lake has several local businesses that employ many people in the area. One example is Tom’s Automotive Repair, a locally owned shop that specializes in car repair services. Other local stores include The Corner Market, which has been serving residents for over 25 years, offering fresh produce and other everyday items at discounted prices. Silver Lake also features several medical centers such as Riverview Medical Clinic which provides quality health care services to its residents.
The benefits of living in Silver Lake are numerous; from its close proximity to larger cities like Wichita and Kansas City, to its low cost of living and varied job opportunities - there is something for everyone who calls this small town their home.
Silver Lake has an unemployment rate of 3.6%. The US average is 6.0%.
Silver Lake has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 24.3%, which is lower than the US average of 33.5%.
Tax Rates for Silver Lake
- The Sales Tax Rate for Silver Lake is 9.2%. The US average is 7.3%.
- The Income Tax Rate for Silver Lake is 5.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Silver Lake
- The average income of a Silver Lake resident is $33,339 a year. The US average is $37,638 a year.
- The Median household income of a Silver Lake resident is $49,846 a year. The US average is $69,021 a year.