Lake, MS is a small town located in central Mississippi. It boasts warm weather year-round and abundant outdoor activities such as fishing and hiking. The town is home to small businesses such as Grover's Hardware Store, Johnson's Bakery, and Nettles Supermarket. Rent for a two bedroom apartment costs around $790 per month, making it significantly more affordable than the national average of $1,430 per month. Additionally, groceries are relatively inexpensive considering that the Grocery Cost Index in Lake is 97 compared to the national average of 100. All in all, Lake is a great place to settle with its low cost of living and friendly community atmosphere.
Lake has an unemployment rate of 5.0%. The US average is 6.0%.
Lake has seen the job market decrease by -2.6% over the last year. Future job growth over the next ten years is predicted to be 35.5%, which is higher than the US average of 33.5%.
Tax Rates for Lake
- The Sales Tax Rate for Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for 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 Lake
- The average income of a Lake resident is $22,749 a year. The US average is $37,638 a year.
- The Median household income of a Lake resident is $51,016 a year. The US average is $69,021 a year.