Lake Henry township, MN is a thriving community located in the south-central part of Minnesota. It offers a variety of amenities and attractions, including some of the area's top employers such as Target, UnitedHealth Group, and 3M Corporation. The cost of living in Lake Henry Township is lower than the national average, with an average two bedroom rent of $910 compared to the US average of $1,430. Additionally, the grocery cost index in Lake Henry Township is 96 compared to 100 in the US. This makes it an attractive option for those looking for an affordable place to live with plenty of job opportunities and leisure activities nearby.
Lake Henry township has an unemployment rate of 4.7%. The US average is 6.0%.
Lake Henry township 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 township
- The Sales Tax Rate for Lake Henry township is 7.6%. The US average is 7.3%.
- The Income Tax Rate for Lake Henry township 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 township
- The average income of a Lake Henry township resident is $24,419 a year. The US average is $28,555 a year.
- The Median household income of a Lake Henry township resident is $81,250 a year. The US average is $69,021 a year.