North Oaks, MN is a suburb of Minneapolis and is known for its high quality of life. The average two-bedroom rent in North Oaks is $1,600 while the US average for two-bedroom rent is $1,430. Additionally, grocery cost index in North Oaks stands at 103 versus 100 in the US. The town offers residents a peaceful suburban setting combined with easy access to the bustling city of Minneapolis. Notable companies based in North Oaks include Medtronic and Davticom Technologies Incorporated. Another major draw of North Oaks are its moderate weather patterns that include hot summers and cold winters with little snowfall throughout the year. The total population size as of 2019 was estimated to be 6,700 people.
North Oaks has an unemployment rate of 4.5%. The US average is 6.0%.
North Oaks has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 35.9%, which is higher than the US average of 33.5%.
Tax Rates for North Oaks
- The Sales Tax Rate for North Oaks is 7.9%. The US average is 7.3%.
- The Income Tax Rate for North Oaks 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 North Oaks
- The average income of a North Oaks resident is $80,529 a year. The US average is $28,555 a year.
- The Median household income of a North Oaks resident is $220,861 a year. The US average is $69,021 a year.