Lakeland, TN is a thriving city located in the greater Memphis metropolitan area. It's a great location for young professionals and families alike. The median 2 bedroom rent in Lakeland is $1,440, which is slightly higher than the US average of $1,430. Additionally, the cost of living in Lakeland is higher than the national average with a grocery cost index of 101 versus 100 respectively. There are many great companies located in Lakeland such as Eye Spy Supply Co., Raccoon Valley Nursery, and Brandywine Farms. The local economy has plenty of opportunities for anyone looking to live and work in this vibrant community.
Lakeland has an unemployment rate of 6.8%. The US average is 6.0%.
Lakeland has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 37.4%, which is higher than the US average of 33.5%.
Tax Rates for Lakeland
- The Sales Tax Rate for Lakeland is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Lakeland is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lakeland
- The average income of a Lakeland resident is $45,210 a year. The US average is $37,638 a year.
- The Median household income of a Lakeland resident is $102,025 a year. The US average is $69,021 a year.