Fifty Lakes, MN is a small town located just outside of Duluth. It has a population of around 300 people and offers scenic views of the lake and nearby mountains. There are several local businesses in this area such as Fifty Lakes Pizza, Ace Hardware and fifty lakes Vet Clinic. The cost of living in Fifty Lakes is much lower than the US average. The average 2 bedroom rent is $950 while the US average is $1,430, while the grocery cost index in Fifty Lakes is 101 versus 100 in the US. In general, Fifty Lakes offers a great quality of life at an affordable price.
Fifty Lakes has an unemployment rate of 6.0%. The US average is 6.0%.
Fifty Lakes 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 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Fifty Lakes
- The Sales Tax Rate for Fifty Lakes is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Fifty Lakes 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 Fifty Lakes
- The average income of a Fifty Lakes resident is $30,919 a year. The US average is $28,555 a year.
- The Median household income of a Fifty Lakes resident is $66,250 a year. The US average is $69,021 a year.