Grove Lake, MN is a charming village located in the Midwest that offers residents plenty of amenities. The cost of living in Grove Lake is substantially lower than the national average; two-bedroom rent averages $930 per month and grocery costs are 98 on the index compared to 100 across the US. Local businesses in town include banking, retail stores, restaurants and cafes, medical centers, and leisure activities. A number of popular companies are headquartered here such as Grova Farms, Farley's Distillery and Viva Coffee Roasters. Residents can enjoy a wide range of outdoor activities all year round like camping, hiking trails, biking or fishing as well as access to numerous parks in the area. With its accessible location and rich community offerings, Grove Lake is an attractive place for both young professionals and families to call home.
Grove Lake has an unemployment rate of 4.5%. The US average is 6.0%.
Grove Lake has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 29.1%, which is lower than the US average of 33.5%.
Tax Rates for Grove Lake
- The Sales Tax Rate for Grove Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Grove 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 Grove Lake
- The average income of a Grove Lake resident is $35,515 a year. The US average is $37,638 a year.
- The Median household income of a Grove Lake resident is $73,750 a year. The US average is $69,021 a year.