Gem Lake, MN is a great place to live for those seeking an affordable yet high-quality lifestyle. With the average 2 bedroom rent at just $1,400 per month and a grocery cost index of 101 compared to the US average of 100, it's easy to see why people are drawn to this picturesque location. Gem Lake is home to many local businesses and amenities such as Goodrich Grocery Store, Gem Cottage Cafe, and The Lakeside Park recreation area. With its beautiful lakeside views and friendly atmosphere, Gem Lake has everything needed for a comfortable living experience.
Gem Lake has an unemployment rate of 4.5%. The US average is 6.0%.
Gem Lake has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 35.9%, which is higher than the US average of 33.5%.
Tax Rates for Gem Lake
- The Sales Tax Rate for Gem Lake is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Gem 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 Gem Lake
- The average income of a Gem Lake resident is $55,974 a year. The US average is $28,555 a year.
- The Median household income of a Gem Lake resident is $117,500 a year. The US average is $69,021 a year.