Tofte, Minnesota is a picturesque city nestled between Lake Superior and the Sawtooth Mountains. It's an ideal spot for outdoor enthusiasts who love to ski, hike, fish and camp in the surrounding area. The average two bedroom rent in Tofte is $820 compared to the US average of $1,430 which makes it an affordable location to live. Additionally, the Grocery Cost Index in Tofte is 102 versus 100 in the US which further adds to its appeal. Located near Tofte you'll find a variety of local businesses like Lutsen Lodging Company, TreeHugger’s Café & Pub and Big Stone Mini Golf. There are also plenty of attractions nearby including Temperance River State Park and Cascade Beach for swimming and kayaking.
Tofte has an unemployment rate of 7.4%. The US average is 6.0%.
Tofte has seen the job market increase by 12.9% over the last year. Future job growth over the next ten years is predicted to be 55.5%, which is higher than the US average of 33.5%.
Tax Rates for Tofte
- The Sales Tax Rate for Tofte is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Tofte 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 Tofte
- The average income of a Tofte resident is $26,216 a year. The US average is $28,555 a year.
- The Median household income of a Tofte resident is $42,500 a year. The US average is $69,021 a year.