Elkhart Lake, WI 53020 is a small town located in Sheboygan County. It has a beautiful lake and is surrounded by lush green hills and forests. This makes it a great location to live, especially for those who enjoy outdoor activities such as boating, fishing, swimming, camping, and hiking. The area has strong economic development prospects with several businesses operating in the area including The Osthoff Resort, Elkhart Lake Boat Works Inc., Elkhart Lake-Glenbeulah School District, and the Elkhart Lake Chamber of Commerce. The cost of living is low with 2 bedroom rent at $1,020 while the US average for 2 bedroom rent is $1,430. Furthermore, grocery cost index in Elkhart Lake is 98 versus 100 in the US. With its close proximity to Milwaukee and Chicago, affordable rental prices and ample leisure activities it is no wonder why many people are looking to make Elkhart Lake their home.
Elkhart Lake (zip 53020) has an unemployment rate of 3.7%. The US average is 6.0%.
Elkhart Lake (zip 53020) has seen the job market decrease by -3.8% 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 Elkhart Lake (zip 53020)
- The Sales Tax Rate for Elkhart Lake (zip 53020) is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Elkhart Lake (zip 53020) 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 Elkhart Lake (zip 53020)
- The average income of a Elkhart Lake (zip 53020) resident is $42,987 a year. The US average is $37,638 a year.
- The Median household income of a Elkhart Lake (zip 53020) resident is $80,515 a year. The US average is $69,021 a year.