Beaver Bay, Minnesota is a small town located on the north shore of Lake Superior. It is known for its scenic views, outdoor activities, and friendly atmosphere. The median rent for a 2-bedroom home in Beaver Bay is $1,090 compared to the national average of $1,430, making it an affordable area to live in. Additionally, the Grocery Cost Index in Beaver Bay is 97 which is slightly lower than the US average of 100. Businesses that are located in the area include Kwik Trip convenience store, Boreal Pizza and Wings, Oasis Gas Station Mini Mart, and North Shores Cafe & Bar. All in all, Beaver Bay offers a variety of amenities at a reasonable cost of living compared to other places in the US.
Beaver Bay has an unemployment rate of 5.1%. The US average is 6.0%.
Beaver Bay 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 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Beaver Bay
- The Sales Tax Rate for Beaver Bay is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Beaver Bay 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 Beaver Bay
- The average income of a Beaver Bay resident is $18,143 a year. The US average is $28,555 a year.
- The Median household income of a Beaver Bay resident is $63,000 a year. The US average is $69,021 a year.