Lake Marshall, MN is a small town in the Midwest with a population of under 3,000 people. It is known for its affordable living costs and friendly atmosphere. The average 2 bedroom rent in this area is only $850 compared to the US average of $1,430. Additionally, the grocery cost index in Lake Marshall is 97 as opposed to the national rate of 100.
The town is home to many local businesses including Chester's Market which provides fresh produce and other groceries, Marshall's Hardware for all your needs, and Big Man Clothing where you can find quality clothing at discounted prices. The town also offers plenty of outdoor activities such as fishing, camping, swimming, and hiking in nearby parks like Blue Lake State Park and Grandview State Park. With its low cost of living combined with its close proximity to nature activities, Lake Marshall is an ideal place for those looking for a peaceful yet affordable lifestyle.
Lake Marshall has an unemployment rate of 4.2%. The US average is 6.0%.
Lake Marshall has seen the job market decrease by -2.4% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Lake Marshall
- The Sales Tax Rate for Lake Marshall is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Lake Marshall 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 Marshall
- The average income of a Lake Marshall resident is $40,833 a year. The US average is $37,638 a year.
- The Median household income of a Lake Marshall resident is $109,167 a year. The US average is $69,021 a year.