Lakewood, NY is a small town located in Chautauqua County in western New York. It's known for its strong community spirit and beautiful natural scenery. Lakewood has many local businesses that provide goods and services to the townspeople, including art galleries, retail stores, restaurants, a library, and more. The cost of living in Lakewood is relatively low compared to the rest of the United States. The average rent for a two-bedroom apartment is $850 while nationally it's $1,430. Additionally, grocery prices in Lakewood are 98 on the Cost Index versus 100 nationally. This makes it easier for residents to live comfortably without breaking their budgets.
Lakewood has an unemployment rate of 7.4%. The US average is 6.0%.
Lakewood has seen the job market decrease by -1.1% over the last year. Future job growth over the next ten years is predicted to be 12.7%, which is lower than the US average of 33.5%.
Tax Rates for Lakewood
- The Sales Tax Rate for Lakewood is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Lakewood is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lakewood
- The average income of a Lakewood resident is $30,470 a year. The US average is $28,555 a year.
- The Median household income of a Lakewood resident is $61,435 a year. The US average is $69,021 a year.