Lakeland, TN 38002 is an ideal place to live with its close proximity to Memphis and low 2 bedroom rent at $1,480. The US average 2 bedroom rent is $1,430 making Lakeland a more affordable option for those looking to move. Additionally, the Grocery Cost Index in Lakeland is 101 versus 100 in the US signifying that groceries are slightly more expensive here than other places. Local companies include Gibson Guitar Corporation, International Paper Company, and AutoZone Corporation as well as many smaller businesses. This location offers plenty of job opportunities and makes for a great place to settle down and raise a family.
Lakeland (zip 38002) has an unemployment rate of 6.8%. The US average is 6.0%.
Lakeland (zip 38002) has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 37.4%, which is higher than the US average of 33.5%.
Tax Rates for Lakeland (zip 38002)
- The Sales Tax Rate for Lakeland (zip 38002) is 9.8%. The US average is 7.3%.
- The Income Tax Rate for Lakeland (zip 38002) 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 Lakeland (zip 38002)
- The average income of a Lakeland (zip 38002) resident is $40,816 a year. The US average is $37,638 a year.
- The Median household income of a Lakeland (zip 38002) resident is $100,218 a year. The US average is $69,021 a year.