Lake Edward, MN is a small city located in the heart of Minnesota. It offers a peaceful lifestyle with access to many local amenities. The cost of living in Lake Edward is low compared to that of larger cities; the average two-bedroom rent is around $1,010 per month, while the US average rent for two-bedrooms is $1,430. Additionally, grocery costs are approximately equal to those in other cities in the US, with an index of 100.
The town is home to a few local companies including Lake Edward Auto Repair and Lakeside Event Center. These businesses provide jobs and services for locals and serve as anchors in the community. Many people travel to Lake Edward from other parts of Minnesota or Wisconsin for its natural beauty and charm. With its affordable housing and cost of living options, this small town makes for a great place to live or visit!
Lake Edward has an unemployment rate of 6.0%. The US average is 6.0%.
Lake Edward has seen the job market increase by 5.1% over the last year. Future job growth over the next ten years is predicted to be 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Lake Edward
- The Sales Tax Rate for Lake Edward is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake Edward 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 Edward
- The average income of a Lake Edward resident is $30,982 a year. The US average is $28,555 a year.
- The Median household income of a Lake Edward resident is $73,287 a year. The US average is $69,021 a year.