Algoma town, WI is a beautiful, small town located near Lake Michigan. It has an accessible waterfront and lots of outdoor recreation opportunities that make it a great place to live. The cost of living is quite low, with two bedroom rent being only $980 per month compared to the national average of $1,430. In addition, the grocery cost index in Algoma town is 96 versus 100 in the US overall.
This attractive price tag makes Algoma town an attractive choice for families and individuals looking for affordable housing options. The local economy mainly consists of businesses related to tourism such as boat tours along Lake Michigan, restaurants and cafes that serve fresh seafood dishes from nearby waters, and recreational equipment stores that offer gear for outdoor activities. Additionally, there are several manufacturing companies based in Algoma that produce tools used throughout the Midwest region.
Algoma town (Winnebago County) has an unemployment rate of 3.9%. The US average is 6.0%.
Algoma town (Winnebago County) has seen the job market decrease by -2.4% over the last year. Future job growth over the next ten years is predicted to be 35.6%, which is higher than the US average of 33.5%.
Tax Rates for Algoma town (Winnebago County)
- The Sales Tax Rate for Algoma town (Winnebago County) is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Algoma town (Winnebago County) is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Algoma town (Winnebago County)
- The average income of a Algoma town (Winnebago County) resident is $53,540 a year. The US average is $37,638 a year.
- The Median household income of a Algoma town (Winnebago County) resident is $104,545 a year. The US average is $69,021 a year.