Karlstad, MN is a small city located in the northern part of Minnesota near the Canadian border. While it may be a small town with a population of only about 400 people, Karlstad still has plenty to offer. A number of local businesses call Karlstad home, including family-owned stores such as Karlstad’s Candy Store and Tall Pines Grocery. There are also restaurants like the Firebird Café as well as places offering services like Northland Floral. The cost of living in Karlstad is relatively low compared to other cities across the US, with rent for two bedroom apartments costing around $990 per month. The cost of groceries here is even lower than in most other places at just 93 on the grocery cost index versus 100 in the US on average. This makes Karlstad an attractive place to live for anyone looking for an affordable yet comfortable place to settle down in.
Karlstad has an unemployment rate of 4.0%. The US average is 6.0%.
Karlstad has seen the job market decrease by -0.5% over the last year. Future job growth over the next ten years is predicted to be 18.6%, which is lower than the US average of 33.5%.
Tax Rates for Karlstad
- The Sales Tax Rate for Karlstad is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Karlstad 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 Karlstad
- The average income of a Karlstad resident is $21,124 a year. The US average is $28,555 a year.
- The Median household income of a Karlstad resident is $50,192 a year. The US average is $69,021 a year.