Spring Lake Park, MN is a small city located in the north of Minnesota. It offers its residents a friendly and peaceful atmosphere with plenty of parks and green areas to explore. The cost of living is more affordable than in other parts of Minnesota, with 2 bedroom rent costing $1,350 compared to the US average of $1,430 and a grocery cost index of 100 versus the US's 100 - making it an ideal place for people looking to live in an affordable area. Local companies that could be found include Horizon Bank, Top Line Federal Credit Union, and Nelco Plastics Inc. These businesses offer locals employment opportunities as well as diverse services such as banking and plastic fabrication.
Spring Lake Park has an unemployment rate of 4.4%. The US average is 6.0%.
Spring Lake Park 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 Spring Lake Park
- The Sales Tax Rate for Spring Lake Park is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Spring Lake Park 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 Spring Lake Park
- The average income of a Spring Lake Park resident is $27,004 a year. The US average is $28,555 a year.
- The Median household income of a Spring Lake Park resident is $72,083 a year. The US average is $69,021 a year.