Park Rapids, MN is a small town with a population of around 3,000. It is located in northern Minnesota with plenty of local attractions including Fish Hook River for swimming and tubing, Heartland State Trail for biking and hiking, and Long Lake for fishing. The cost of living is relatively affordable; the average rent for a two-bedroom apartment is $910 while the national average is $1,430. The Grocery Cost Index in Park Rapids is 98 versus 100 in the US. Local businesses include Indian Hill Trading Post that offers antiques, art, and collectibles as well as Premier Powersports which offers service on vehicles ranging from snowmobiles to ATVs. Park Rapids also has several local restaurants such as Cedar Crossing restaurant, Norton’s Bar & Grill or the famous Choppers Drive In. With its low cost of living and convenient location near many natural attractions, Park Rapids is an ideal place to live or visit.
Park Rapids has an unemployment rate of 6.1%. The US average is 6.0%.
Park Rapids has seen the job market increase by 6.6% over the last year. Future job growth over the next ten years is predicted to be 45.6%, which is higher than the US average of 33.5%.
Tax Rates for Park Rapids
- The Sales Tax Rate for Park Rapids is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Park Rapids 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 Park Rapids
- The average income of a Park Rapids resident is $20,032 a year. The US average is $28,555 a year.
- The Median household income of a Park Rapids resident is $41,170 a year. The US average is $69,021 a year.