Boy Lake, MN is a charming small town with many local businesses that make it special. With a population of around 4,000 people, it's the perfect size for those looking to escape the hustle and bustle of larger cities. The cost of two bedroom rent in Boy Lake is significantly lower than the US average, at $880 per month. This could be attributed to the fact that there are plenty of local companies providing housing options at competitive prices, such as Boy Lakeside Rentals or Studio Hometown Apartments. Additionally, the Grocery Cost Index in Boy Lake is just 97 compared to 100 in the US on average which means households can save money on their food budget here too. All this makes Boy Lake an attractive spot for those seeking affordable living in a quaint setting with all the amenities one would need.
Boy Lake has an unemployment rate of 8.4%. The US average is 6.0%.
Boy Lake has seen the job market increase by 9.2% over the last year. Future job growth over the next ten years is predicted to be 51.3%, which is higher than the US average of 33.5%.
Tax Rates for Boy Lake
- The Sales Tax Rate for Boy Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Boy 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 Boy Lake
- The average income of a Boy Lake resident is $22,756 a year. The US average is $28,555 a year.
- The Median household income of a Boy Lake resident is $44,219 a year. The US average is $69,021 a year.