St. Louis Park, MN is a desirable community located in Minnesota, with a thriving economy and great quality of life. The average two bedroom rent in St. Louis Park is higher than the US average, at $1,660 compared to $1,430; however, many locals find this price worth it due to the high quality of life available in the city. Additionally, the cost of groceries is slightly higher than that of the US average, making it 103 instead of 100 on an index scale. This may be due to the city's plethora of local businesses and attractions available for residents to enjoy. Notable companies located in St. Louis Park include Cargill Inc., Honeywell International Inc., Land O’ Lakes Inc., and Starkey Hearing Technologies LLC, among many others. All in all, St. Louis Park is an excellent place to live and work!
St. Louis Park has an unemployment rate of 3.5%. The US average is 6.0%.
St. Louis 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 38.3%, which is higher than the US average of 33.5%.
Tax Rates for St. Louis Park
- The Sales Tax Rate for St. Louis Park is 7.5%. The US average is 7.3%.
- The Income Tax Rate for St. Louis 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 St. Louis Park
- The average income of a St. Louis Park resident is $39,502 a year. The US average is $28,555 a year.
- The Median household income of a St. Louis Park resident is $87,639 a year. The US average is $69,021 a year.