Lake Town, ND is a small town located in the Midwest of America, offering a cozy atmosphere. The cost of living in Lake Town is lower than many places across the United States due to its low population. Rent for a two bedroom in Lake Town averages around $860, while the US rent for a two bedroom averages $1,430. Grocery costs are also lower in Lake Town as their index rate of 96 is 4 points lower than the US average of 100. Local companies include Potatoes Plus Produce, Bison Country Meats, and Bluestem Cafe & Bakery. Together with its affordable prices, Lake Town creates an ideal environment for those looking to stay on budget while still enjoying life away from the hustle and bustle of larger cities.
Lake Town has an unemployment rate of 3.7%. The US average is 6.0%.
Lake Town has seen the job market decrease by -1.5% over the last year. Future job growth over the next ten years is predicted to be 12.5%, which is lower than the US average of 33.5%.
Tax Rates for Lake Town
- The Sales Tax Rate for Lake Town is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Town is 2.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Town
- The average income of a Lake Town resident is $52,694 a year. The US average is $37,638 a year.
- The Median household income of a Lake Town resident is $113,333 a year. The US average is $69,021 a year.