Lake Crystal is a small city located in Blue Earth County, Minnesota. It offers a peaceful environment for families looking to settle down. The cost of living in Lake Crystal is quite affordable with the average two bedroom rent only being $970 compared to the US average at $1,430. Additionally, the Grocery Cost Index in Lake Crystal is 97 which is 3 lower than the US index of 100.
The city has many local businesses that make it unique and attractive to potential residents. These include popular chain stores such as Walmart, Hy-Vee, and Target while also providing some unique businesses such as Lake Crystal Coop Creamery, Dave's Auto Body Shop, and The Boathouse restaurant. All these businesses provide great services for residents making Lake Crystal an ideal place to live.
Lake Crystal has an unemployment rate of 3.9%. The US average is 6.0%.
Lake Crystal has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 37.2%, which is higher than the US average of 33.5%.
Tax Rates for Lake Crystal
- The Sales Tax Rate for Lake Crystal is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake Crystal 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 Lake Crystal
- The average income of a Lake Crystal resident is $25,833 a year. The US average is $28,555 a year.
- The Median household income of a Lake Crystal resident is $68,508 a year. The US average is $69,021 a year.