Bear Park, MN is a small city located in the Midwest, offering a range of affordable living options for those looking to rent. With two bedroom apartments renting for $890 compared to the national average of $1,430, Bear Park residents are able to enjoy a significantly lower cost of living. The Grocery Cost Index in Bear Park is 95 versus 100 in the US, so groceries are also more affordable than most areas around the country. In terms of local companies and amenities, there are several businesses that have taken root in this quaint community. Local favorites include Smith's Diner for some classic American cuisine, Bear Boutique for unique fashion finds, and Beary Fun Playground for an afternoon of family fun. With these offerings and much more, Bear Park is a vibrant city with plenty to offer its residents.
Bear Park has an unemployment rate of 5.7%. The US average is 6.0%.
Bear Park has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Bear Park
- The Sales Tax Rate for Bear Park is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Bear Park 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 Bear Park
- The average income of a Bear Park resident is $30,715 a year. The US average is $28,555 a year.
- The Median household income of a Bear Park resident is $66,000 a year. The US average is $69,021 a year.