Lida, Minnesota is a small town located in the southwestern part of the state. It is known for its beautiful natural landscape and welcoming atmosphere. The population of Lida is not large, but it provides plenty of local businesses for residents to shop at and work at. Some of these companies include a hardware store, restaurants, grocery stores, hair salons, beauty shops, and auto repair shops.
The cost of living in Lida is quite reasonable compared to other cities in the US. The average two bedroom rent is $980 versus $1,430 nationally. The grocery cost index in Lida is also 100 compared to 100 nationwide. This makes it easy for locals to get by on their budget without going too far outside of their means. Overall Lida proves to be a great place to live with its affordable living costs and quaint small-town feel.
Lida has an unemployment rate of 5.3%. The US average is 6.0%.
Lida has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Lida
- The Sales Tax Rate for Lida is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lida 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 Lida
- The average income of a Lida resident is $31,514 a year. The US average is $28,555 a year.
- The Median household income of a Lida resident is $78,750 a year. The US average is $69,021 a year.