Diamond Lake, MN is a small city located in the North-Central part of the United States. It has an estimated population of 5,000 people that enjoy the peaceful atmosphere and stunning views of the nearby lake. Apartments for rent in Diamond Lake are quite affordable with a 2 bedroom rent priced at only $810 compared to the US average of $1,430. Groceries are also cheaper here than elsewhere with a Grocery Cost Index of 96 while the national average is 100.
The local economy is based around tourism as well as small businesses like The Family Grill, Home Improvement Solutions, and Mike's Plumbing Services. With living expenses significantly lower than many other parts of the country and stunning nature scenery all around, Diamond Lake is an ideal place to live for those looking for peace and tranquility away from major cities.
Diamond Lake has an unemployment rate of 5.7%. The US average is 6.0%.
Diamond Lake has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Diamond Lake
- The Sales Tax Rate for Diamond Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Diamond 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 Diamond Lake
- The average income of a Diamond Lake resident is $23,575 a year. The US average is $28,555 a year.
- The Median household income of a Diamond Lake resident is $90,000 a year. The US average is $69,021 a year.