Lake Alice, MN is a small town located in the Midwest region of the United States. It is known for its peaceful atmosphere and beautiful scenery. Despite its size, Lake Alice has much to offer to its inhabitants. The cost of living in Lake Alice is significantly lower than many other places in the US due to lower rental costs and grocery prices. A two-bedroom apartment can cost as low as $880 per month compared to the national average of $1,430; similarly, the grocery cost index in Lake Alice is 99 versus 100 in the US. \nAdditionally, Lake Alice is home to numerous businesses that provide employment opportunities for locals. Some notable companies include Main Street Bakery, Chief Pines Insurance Agency, and Lake Alice Technology Solutions. With such low living costs and ample job opportunities, it’s no surprise that so many people are making their home in Lake Alice.
Lake Alice has an unemployment rate of 6.1%. The US average is 6.0%.
Lake Alice has seen the job market increase by 6.6% over the last year. Future job growth over the next ten years is predicted to be 45.6%, which is higher than the US average of 33.5%.
Tax Rates for Lake Alice
- The Sales Tax Rate for Lake Alice is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake Alice 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 Lake Alice
- The average income of a Lake Alice resident is $24,618 a year. The US average is $28,555 a year.
- The Median household income of a Lake Alice resident is $95,417 a year. The US average is $69,021 a year.