Ross Lake, MN is a small town located in the Midwest region of the United States. The population in Ross Lake is relatively low, but it remains a popular spot as an affordable place to live. Those looking for two-bedroom rental apartments will find that the average rent in Ross Lake is about $860 per month which is significantly lower than the US average of $1,430. When it comes to grocery shopping, Ross Lake residents can also benefit from lower costs due to its Grocery Cost Index (GCI) rating of 98 when compared to the national average of 100.
The small town atmosphere makes it attractive to young professionals who want to experience a low cost of living without sacrificing access to entertainment and commercial services. Local companies in Ross Lake include Cone's Hardware Store, Bixby Farms Dairy, and Donut Donuts Bakery. There are also several restaurants such as Diner 55 and Town Pizza that offer casual dining options for residents and visitors alike. With all these advantages combined with its affordability, Ross Lake offers an ideal place for people looking for an affordable place to live without sacrificing quality services or lifestyle opportunities.
Ross Lake has an unemployment rate of 6.0%. The US average is 6.0%.
Ross 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 Ross Lake
- The Sales Tax Rate for Ross Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Ross 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 Ross Lake
- The average income of a Ross Lake resident is $29,504 a year. The US average is $28,555 a year.
- The Median household income of a Ross Lake resident is $80,000 a year. The US average is $69,021 a year.