Lake, MI County is a great place to live and work. Located in Michigan, the county has many businesses that provide goods and services to residents. The cost of living is low; rent for a two bedroom home is $830, which is significantly lower than the national average of $1,430. Furthermore, the grocery cost index is 90 versus 100 in the US. Local businesses such as Lake Pharmacy provide pharmaceuticals while Lake Store sells groceries from local farms. Additionally, restaurants like Joe's Diner serve classic American dishes. With its low cost of living and abundance of local businesses, Lake, MI County is an ideal location for individuals and families looking to settle down.
Lake County has an unemployment rate of 8.4%. The US average is 6.0%.
Lake County has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 28.4%, which is lower than the US average of 33.5%.
Tax Rates for Lake County
- The Sales Tax Rate for Lake County is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Lake County is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake County
- The average income of a Lake County resident is $16,275 a year. The US average is $28,555 a year.
- The Median household income of a Lake County resident is $40,753 a year. The US average is $69,021 a year.