Lake Shore, MD is a charming suburban town located in Anne Arundel County. It's a great place to live, with plenty of amenities for residents. The cost of living here is generally higher than the national average; for example, two bedroom rent averages around $1,920 per month. Grocery costs are also higher than the national average, with an index of 103 versus 100 in the US.
The population of Lake Shore is approximately 11,800 people and there are many local businesses that offer unique services to area residents. Some popular companies include Total Wellness Physical Therapy and Balance Center, offering physical therapy and pilates classes; Lighthouse Cafe Bar & Grill for delicious food; Posh Hair Salon for beauty needs; and Gibbs Hardware for home improvement projects.
Lake Shore has an unemployment rate of 4.9%. The US average is 6.0%.
Lake Shore has seen the job market decrease by -6.2% over the last year. Future job growth over the next ten years is predicted to be 32.7%, which is lower than the US average of 33.5%.
Tax Rates for Lake Shore
- The Sales Tax Rate for Lake Shore is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lake Shore is 7.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Shore
- The average income of a Lake Shore resident is $49,915 a year. The US average is $37,638 a year.
- The Median household income of a Lake Shore resident is $115,104 a year. The US average is $69,021 a year.