Economy in Lakewood, Colorado
Lakewood, Colorado is an attractive city located near Denver with numerous amenities and attractions. The cost of living in Lakewood is slightly higher than most other cities in the US with 2 bedroom rent averaging $1,780 compared to $1,430 nationally. The grocery cost index in Lakewood is also higher than the national average at 102 versus 100. Despite these higher costs Lakewood offers many job opportunities at companies like Lockheed Martin, Terumo BCT, Ball Aerospace & Technologies Corp., and Kaiser Permanente. Additionally, there are plenty of recreational activities available such as outdoor hikes and lakefront walks along Bear Creek Lake Regional Park. With its close proximity to both Denver’s exciting nightlife and beautiful nature reserves, Lakewood has something for everyone making it an ideal place to live.
Lakewood has an unemployment rate of 7.2%. The US average is 6.0%.
Lakewood has seen the job market increase by 2.8% over the last year. Future job growth over the next ten years is predicted to be 44.1%, which is higher than the US average of 33.5%.
Tax Rates for Lakewood
- The Sales Tax Rate for Lakewood is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Lakewood is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lakewood
- The average income of a Lakewood resident is $31,689 a year. The US average is $28,555 a year.
- The Median household income of a Lakewood resident is $56,134 a year. The US average is $53,482 a year.
