Lockhart, MN is a small town located in Cottonwood County, Minnesota. The population of Lockhart is estimated to be around 100 people. It is known for its small-town charm and peacefulness. The 2 bedroom rent in Lockhart,MN is much lower than the national average at $820 versus $1,430 on average across the US. Grocery cost index is also 93 as compared to the US which is 100.
Lockhart has many unique attractions that visitors can enjoy such as the Linden Hills Museum & Prairie Center, Northfork Trading Company and Birchbark Restaurant & Ice Cream Parlour. Additionally, there are many local businesses in town like B&G Machine Inc., G&G Builders, Chris's Country Cuts Hair Salon, among others that contribute towards the economic activity of Lockhart and offer excellent services to its residents.
Lockhart has an unemployment rate of 5.7%. The US average is 6.0%.
Lockhart has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Lockhart
- The Sales Tax Rate for Lockhart is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Lockhart 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 Lockhart
- The average income of a Lockhart resident is $19,790 a year. The US average is $28,555 a year.
- The Median household income of a Lockhart resident is $43,750 a year. The US average is $69,021 a year.