Lake Cherokee, TX is a small town situated in East Texas with a population of approximately 7,000 people. It is located close to the major cities of Tyler and Longview. The town's quaint atmosphere and charming characteristics make it an attractive place for those looking to live in a smaller community. Renting a two-bedroom apartment in Lake Cherokee averages around $930 per month; this is much lower than the US average of $1,430 per month. Additionally, the Grocery Cost Index in Lake Cherokee is 93 versus 100 on average across the United States.
Lake Cherokee has several local businesses that make it an appealing place to live and work. These include a range of restaurants such as Mi Pueblo Mexican Restaurant, Las Fuentes Tex-Mex Grill & Bar, and La Michoacana Mexican Cuisine & Bakery. For shopping, residents can go to stores like Liberty Discount Store and Dollar General. Other services such as barbershops, beauty salons, banks, gas stations, auto shops and medical centers are also readily available in the area.
Lake Cherokee has an unemployment rate of 7.5%. The US average is 6.0%.
Lake Cherokee has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 18.8%, which is lower than the US average of 33.5%.
Tax Rates for Lake Cherokee
- The Sales Tax Rate for Lake Cherokee is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Lake Cherokee 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 Lake Cherokee
- The average income of a Lake Cherokee resident is $42,966 a year. The US average is $28,555 a year.
- The Median household income of a Lake Cherokee resident is $77,091 a year. The US average is $69,021 a year.