Lafayette township, MN is a small town located in the Midwestern United States. It is known for its quiet and rural atmosphere, with many acres of farmland and rolling hills. The cost of living in Lafayette township, MN is notably lower than the US average. The 2 bedroom rent averages around $980 per month which is lower than the national average of $1,430 making it an attractive place to live for those looking for affordable housing. Additionally, grocery costs are significantly lower in Lafayette township at 97 compared to 100 on the US index.
The town provides residents with plenty of amenities including local businesses such as D&T Auto Sales, Carpenters Hardwood Flooring, Acorn Fire Protection Inc., and Midway Family Dentistry. There are also several local parks and recreational sites such as Ivy Park, Linwood Lake County Park and Perham Wildlife Area offering outdoor activities like fishing, swimming, boating and hiking for residents to enjoy throughout the year.
Lafayette township has an unemployment rate of 3.6%. The US average is 6.0%.
Lafayette township has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Lafayette township
- The Sales Tax Rate for Lafayette township is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lafayette township 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 Lafayette township
- The average income of a Lafayette township resident is $37,377 a year. The US average is $28,555 a year.
- The Median household income of a Lafayette township resident is $103,409 a year. The US average is $69,021 a year.