Lakewood Park, TN is a small town located in Tennessee. The cost of living is relatively low in Lakewood Park, with 2 bedroom rent priced at $1,040 compared to the national average of $1,430. Additionally, groceries are also cheaper in Lakewood Park; the grocery cost index is 96 versus 100 nationally. This makes it an attractive place for families looking to live comfortably without breaking their budget. The town hosts a variety of local companies such as ABC Manufacturing and XYZ Grocery Store that provide employment opportunities for residents. The lower cost of living means that more people are able to afford necessities and have money left over for leisure activities. As a result, it has become a desirable place for people who want to live comfortably without spending too much on regular expenses.
Lakewood Park has an unemployment rate of 4.9%. The US average is 6.0%.
Lakewood Park has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 40.2%, which is higher than the US average of 33.5%.
Tax Rates for Lakewood Park
- The Sales Tax Rate for Lakewood Park is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Lakewood Park 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 Lakewood Park
- The average income of a Lakewood Park resident is $12,153 a year. The US average is $28,555 a year.
- The Median household income of a Lakewood Park resident is $33,438 a year. The US average is $69,021 a year.