Sheffield Lake, OH is a small city located in Lorain County offering its residents a suburban feel. This charming community has a population of less than 5,000 people and is known for its peacefulness and affordability. The average rent for a two bedroom apartment in Sheffield Lake is $1,100 which is significantly lower than the national average of $1,430. The cost of living index for Sheffield Lake is 96, making it 4% cheaper than the U.S average. People living in Sheffield Lake have access to many local businesses such as Forney’s Automotive Repair & Performance Center, S & B Landscaping Inc., and Aesop's Pest Control Inc.
Sheffield Lake has an unemployment rate of 4.2%. The US average is 6.0%.
Sheffield Lake has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 24.7%, which is lower than the US average of 33.5%.
Tax Rates for Sheffield Lake
- The Sales Tax Rate for Sheffield Lake is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Sheffield Lake is 4.7%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Sheffield Lake
- The average income of a Sheffield Lake resident is $34,702 a year. The US average is $37,638 a year.
- The Median household income of a Sheffield Lake resident is $65,172 a year. The US average is $69,021 a year.