Loon Lake, Minnesota is a small city located 45 miles from Minneapolis. It is a charming, rural place where people come to relax and enjoy the outdoors. Due to its low rent prices of $990 for two bedrooms, it is an attractive option for those looking to experience the beauty of the area without breaking the bank. The cost of living in Loon Lake is very affordable with a Grocery Cost Index of 99 compared to 100 in the US on average. \nThe city is home to local companies such as Loon Lakes Medical Center, which has been providing exemplary care for over 50 years, and Larsen's Auto Repair which offers excellent vehicle services at competitive prices. Additionally, there are many parks close by such as Lions Park and Birchwood Park that offer a variety of outdoor activities for all ages. With its picturesque landscapes and tight-knit community, Loon Lake is an ideal destination for anyone looking for an escape from their everyday life.
Loon Lake has an unemployment rate of 8.4%. The US average is 6.0%.
Loon Lake 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 Loon Lake
- The Sales Tax Rate for Loon Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Loon Lake 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 Loon Lake
- The average income of a Loon Lake resident is $25,863 a year. The US average is $28,555 a year.
- The Median household income of a Loon Lake resident is $66,250 a year. The US average is $69,021 a year.