Minnesota Lake, MN is a great place to call home. The cost of living is affordable with the average 2 bedroom rent being $870 which is significantly lower than the US average of $1,430. Additionally, groceries are more affordable in Minnesota Lake due to a Grocery Cost Index of 96 compared to 100 in the US.
The area has plenty of local companies and amenities that make it an ideal place to live. These include businesses such as Minnesota Lake Pharmacy and Community Bank, or attractions such as the Minnesota Lake Historical Society and The House on the Hill Museum. For those looking for recreational activities, there are also many parks and trails nearby.
All these features add up to make Minnesota Lake an attractive place to live with a great quality of life. With its low cost and wide range of amenities, it's no wonder that more people are choosing to move here and call it home.
Minnesota Lake has an unemployment rate of 5.2%. The US average is 6.0%.
Minnesota Lake has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 21.7%, which is lower than the US average of 33.5%.
Tax Rates for Minnesota Lake
- The Sales Tax Rate for Minnesota Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Minnesota 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 Minnesota Lake
- The average income of a Minnesota Lake resident is $31,266 a year. The US average is $37,638 a year.
- The Median household income of a Minnesota Lake resident is $59,861 a year. The US average is $69,021 a year.