Lake Benton, MN is a small town located in the southwestern part of Minnesota. It is known for its friendly citizens and charming scenery. The average rent for a two bedroom apartment in Lake Benton is $820 per month, which is significantly lower than the national average of $1,430. Grocery costs in Lake Benton are also lower than other parts of the country; the grocery cost index in Lake Benton is 96 versus 100 nationwide.
The small town atmosphere in Lake Benton provides residents with access to popular local businesses such as Subway, Ace Hardware, and Walgreens. Nature lovers may be interested visit to nearby landmarks like Little Sioux Park or Wildwood Park & Beach. With its low cost of living and abundance of activities to choose from, Lake Benton certainly has something for everyone!
Lake Benton has an unemployment rate of 5.7%. The US average is 6.0%.
Lake Benton has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Lake Benton
- The Sales Tax Rate for Lake Benton is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Lake Benton 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 Benton
- The average income of a Lake Benton resident is $22,134 a year. The US average is $28,555 a year.
- The Median household income of a Lake Benton resident is $52,750 a year. The US average is $69,021 a year.