Home Lake, MN is a great city to live in. It has all the amenities one could want while maintaining affordable rental costs. The average 2 bedroom rent in Home Lake is $1,100 per month, which is much lower than the US average of $1,430. Additionally, the Grocery Cost Index in Home Lake is 93 versus 100 in the US. There are plenty of local companies and attractions in Home Lake such as The Home Lake Bookstore, Supreme Cinemas, and The Fry House restaurant. Along with these businesses there are many outdoor activities like fishing in Birch Creek and hiking at nearby State Park. With its low cost of living and abundance of entertainment options, it's no wonder why so many people decide to call Home Lake home.
Home Lake has an unemployment rate of 5.7%. The US average is 6.0%.
Home Lake has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Home Lake
- The Sales Tax Rate for Home Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Home 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 Home Lake
- The average income of a Home Lake resident is $31,324 a year. The US average is $37,638 a year.
- The Median household income of a Home Lake resident is $90,625 a year. The US average is $69,021 a year.