Lake Shore, MN is a small town located on the shore of a lake. It has a population of around 2,000 people and is known for its excellent quality of life. The cost of living in Lake Shore is relatively low compared to other cities in the US, with 2 bedroom rent at $1,030 and grocery cost index at 101 compared to 100 nationwide. There are many local businesses in Lake Shore that contribute to its economy such as Lakeside Food Co-op which offers organic produce and products; The Boat House, an outdoor adventure centre that offers kayaking trips; and Sunshine Books & Gifts which offers books, gifts and greeting cards. All of these companies provide unique products and services that make Lake Shore an ideal place to live or visit.
Lake Shore has an unemployment rate of 8.4%. The US average is 6.0%.
Lake Shore has seen the job market increase by 9.2% over the last year. Future job growth over the next ten years is predicted to be 51.3%, which is higher than the US average of 33.5%.
Tax Rates for Lake Shore
- The Sales Tax Rate for Lake Shore is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake Shore 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 Shore
- The average income of a Lake Shore resident is $36,079 a year. The US average is $28,555 a year.
- The Median household income of a Lake Shore resident is $81,875 a year. The US average is $69,021 a year.