Lake Prairie, MN is a small town that has plenty to offer for all its residents. The cost of living in Lake Prairie is very affordable, with the average 2-bedroom rent being $1,040 compared to the US average of $1,430. The Grocery Cost Index in Lake Prairie is also much lower than the US average at 99 versus 100. There are many local businesses located here, such as Lakeside Lawn & Garden Supply, Comfort Suites and Lake Breeze Boutique. All these companies help add to the vibrant atmosphere of Lake Prairie while providing jobs and opportunities for locals. Additionally, life in Lake Prairie is peaceful and offers plenty of outdoor activities for locals to enjoy such as fishing, boating and hiking. In short, Lake Prairie offers all the benefits of living in a small town without sacrificing much when it comes to cost of living or job opportunities for its residents.
Lake Prairie has an unemployment rate of 3.6%. The US average is 6.0%.
Lake Prairie 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 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Lake Prairie
- The Sales Tax Rate for Lake Prairie is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake Prairie 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 Prairie
- The average income of a Lake Prairie resident is $33,097 a year. The US average is $28,555 a year.
- The Median household income of a Lake Prairie resident is $94,306 a year. The US average is $69,021 a year.