Lakefield township (Luce Cnty), MI is a small rural community located in Michigan's Upper Peninsula. It offers its residents beautiful landscapes, lush forests, and amazing lakes. The cost of living in Lakefield township is considerably lower than the US average, with 2 bedroom rent being around $970 and grocery cost index at 91 compared to the national average of 100. Local companies in Lakefield area include Luce County Bank, Lakefield Township Fire Department, and Red Mill Cafe & Bakery. Additionally, there are numerous small businesses offering various goods and services to the local population.
Lakefield township (Luce County) has an unemployment rate of 7.6%. The US average is 6.0%.
Lakefield township (Luce County) has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Lakefield township (Luce County)
- The Sales Tax Rate for Lakefield township (Luce County) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lakefield township (Luce County) is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lakefield township (Luce County)
- The average income of a Lakefield township (Luce County) resident is $23,422 a year. The US average is $28,555 a year.
- The Median household income of a Lakefield township (Luce County) resident is $57,024 a year. The US average is $69,021 a year.