Detroit Lakes, MN is an affordable city located in the northern part of Minnesota. The rent for a two-bedroom apartment is only $880 per month which is much lower than the US average of $1,430. Grocery costs are also comparable with the national average index at 100. Additionally, there are numerous local businesses that contribute to the economy of Detroit Lakes such as Detroit Lakes Brewing Company, Premier Real Estate Services and Detroit Country Market. These companies prove that Detroit Lakes is a thriving area and its cost of living is very competitive when compared to other cities across the US.
Detroit Lakes has an unemployment rate of 5.3%. The US average is 6.0%.
Detroit Lakes has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Detroit Lakes
- The Sales Tax Rate for Detroit Lakes is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Detroit Lakes 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 Detroit Lakes
- The average income of a Detroit Lakes resident is $25,866 a year. The US average is $28,555 a year.
- The Median household income of a Detroit Lakes resident is $57,229 a year. The US average is $69,021 a year.