Lake Henry, MN is a small town located in the US state of Minnesota. It has a population of around 1,000 people and is known for its tranquil atmosphere. With a median two bedroom rent of $910, it is much cheaper than the US average of $1,430 making it an attractive option for those looking to save money on rent. Local businesses in Lake Henry include Smith's Hardware Store, Mary's Bakery, and Jensen's Grocery Store. The grocery cost index in Lake Henry is also lower than that of the US at 97 versus 100 respectively making it an affordable place to live. All in all, Lake Henry is an ideal place for those looking to enjoy a peaceful lifestyle and with the low costs of living make it an even more attractive option.
Lake Henry has an unemployment rate of 4.7%. The US average is 6.0%.
Lake Henry has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Lake Henry
- The Sales Tax Rate for Lake Henry is 7.6%. The US average is 7.3%.
- The Income Tax Rate for Lake Henry 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 Henry
- The average income of a Lake Henry resident is $24,922 a year. The US average is $28,555 a year.
- The Median household income of a Lake Henry resident is $91,625 a year. The US average is $69,021 a year.