Fawn Lake, MN is a small city located in Minnesota with affordable rent and cost of living. The average rent for a two bedroom apartment is $850, which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Fawn Lake is 97 compared to 100 in the US. This makes Fawn Lake an attractive place to live due to its affordability and relatively low expenses. There are many local companies that contribute to the economy such as Black Oak Industries, Fawn Township Community Center, and Serengeti Gifts & Apparel. These businesses provide employment opportunities for residents as well as goods and services to locals and visitors alike.
Fawn Lake has an unemployment rate of 5.4%. The US average is 6.0%.
Fawn Lake has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 35.6%, which is higher than the US average of 33.5%.
Tax Rates for Fawn Lake
- The Sales Tax Rate for Fawn Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Fawn 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 Fawn Lake
- The average income of a Fawn Lake resident is $18,261 a year. The US average is $28,555 a year.
- The Median household income of a Fawn Lake resident is $58,839 a year. The US average is $69,021 a year.