Forest Lake, MN is a quaint suburban town located in the Midwest. It is known for its low living costs and many activities to enjoy. The average two bedroom rent for Forest Lake residents is $1,380 per month which is significantly lower than the US average of $1,430. Additionally, the grocery cost index for Forest Lake is 102 versus 100 in the US making it a great place to live more comfortably with a smaller budget. There are several local companies that operate in Forest Lake such as Hy-Vee Grocery Store, Walmart Supercenter, and St Croix Printing & Graphics. Each brings unique benefits to the community ranging from providing quality groceries at low prices to offering professional graphic design services.
Forest Lake has an unemployment rate of 3.9%. The US average is 6.0%.
Forest Lake has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.4%, which is higher than the US average of 33.5%.
Tax Rates for Forest Lake
- The Sales Tax Rate for Forest Lake is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Forest Lake is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Forest Lake
- The average income of a Forest Lake resident is $30,896 a year. The US average is $28,555 a year.
- The Median household income of a Forest Lake resident is $87,753 a year. The US average is $69,021 a year.