Lake of the Woods is a small community located in Virginia. It is characterized by its stunning beauty, with a lake that stretches out amongst well-manicured landscape. The local housing market is quite reasonable, with the average two bedroom rent coming in at $1,410 per month - much lower than the US average of $1430. Grocery costs are also low here, with an index of 100 compared to the US index of 100. The area is home to many businesses including Lake of the Woods Family Practice and Lake of the Woods Veterinary Center. There are also some great restaurants in town such as the Log Cabin Café and The Bayou Grill & Barbeque. Interesting facts about this charming town include its connection to historical landmarks - including George Washington's boyhood home nearby - as well as its close proximity to outdoor recreation areas like Sky Meadows State Park and Fawn Lake Forest Preserve.
Lake of the Woods has an unemployment rate of 4.9%. The US average is 6.0%.
Lake of the Woods has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Lake of the Woods
- The Sales Tax Rate for Lake of the Woods is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Lake of the Woods is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake of the Woods
- The average income of a Lake of the Woods resident is $38,700 a year. The US average is $28,555 a year.
- The Median household income of a Lake of the Woods resident is $88,438 a year. The US average is $69,021 a year.