Nokay Lake, MN is an ideal small town for anyone looking for a slower pace of life with outdoor recreation and affordability. Rent for a two-bedroom apartment is much more affordable than the US average, coming in at $970 compared to $1,430. Additionally, groceries are slightly cheaper in Nokay Lake with the Grocery Cost Index at 97 compared to 100 in the US. The local attractions include biking trails along the lake or canoeing down the river, as well as renowned restaurants like Waterfront Dining Co., which offers fresh seafood and breathtaking views of Nokay Lake. In addition to these popular spots, residents can also enjoy some shopping at local stores like Crossroads Mall or visit some parks like Lewis Park for a peaceful retreat. All things considered, Nokay Lake provides its residents with a low cost of living and plenty of activities to enjoy year round.
Nokay Lake has an unemployment rate of 6.0%. The US average is 6.0%.
Nokay Lake has seen the job market increase by 5.1% over the last year. Future job growth over the next ten years is predicted to be 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Nokay Lake
- The Sales Tax Rate for Nokay Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Nokay 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 Nokay Lake
- The average income of a Nokay Lake resident is $23,020 a year. The US average is $28,555 a year.
- The Median household income of a Nokay Lake resident is $73,125 a year. The US average is $69,021 a year.