Lake Wales, Florida (3385) is a small city located in Polk County. It has a very favorable cost of living which makes it an attractive destination for many looking to relocate. The average 2 bedroom rent in Lake Wales is $980 which is significantly lower than the national average of $1,430. Grocery prices are also relatively inexpensive with an index of 101 compared to the US index of 100. This provides residents with plenty of money-saving opportunity.
In terms of local businesses, there are several places to shop and eat around the city. Wal-Mart Supercenter and Publix are located in close proximity for all your grocery needs. For places to eat, there’s Homer’s Barbecue and Ribs joint across from Wal-Mart, as well as Ellis Burger House and Pizzeria on SR 60 nearby. All offer great food at reasonable prices for hungry locals or tourists alike looking for a decent meal without spending too much money.
Lake Wales (zip 33853) has an unemployment rate of 5.6%. The US average is 6.0%.
Lake Wales (zip 33853) has seen the job market increase by 2.9% over the last year. Future job growth over the next ten years is predicted to be 43.7%, which is higher than the US average of 33.5%.
Tax Rates for Lake Wales (zip 33853)
- The Sales Tax Rate for Lake Wales (zip 33853) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Lake Wales (zip 33853) 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 Wales (zip 33853)
- The average income of a Lake Wales (zip 33853) resident is $15,519 a year. The US average is $28,555 a year.
- The Median household income of a Lake Wales (zip 33853) resident is $40,423 a year. The US average is $69,021 a year.