Lakeland, MN is an idyllic small city that offers some of the best quality of life in the Midwest. It is located just north of St. Paul, MN making it a convenient place to live for those who work in the Twin Cities or want access to all that metropolitan area has to offer. The average rent for a two-bedroom apartment in Lakeland is $1,440 per month, which is slightly higher than the US average of $1,430. Meanwhile, grocery costs index also comes in slightly higher than the national average at 101 compared to 100.
Lakeland has a bustling local economy with several well-known companies such as Target Distribution Center, Topco Associates LLC, and Rotochopper located here. These businesses attract residents from all over the region who come looking for employment opportunities and cheaper housing than can be found in larger cities. While costs are slightly higher than other parts of Minnesota and the US, Lakeland still offers an excellent cost of living when compared against more expensive places like Minneapolis and St Paul's inner suburbs.
Lakeland has an unemployment rate of 3.9%. The US average is 6.0%.
Lakeland has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.4%, which is higher than the US average of 33.5%.
Tax Rates for Lakeland
- The Sales Tax Rate for Lakeland is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Lakeland 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 Lakeland
- The average income of a Lakeland resident is $35,408 a year. The US average is $28,555 a year.
- The Median household income of a Lakeland resident is $88,548 a year. The US average is $69,021 a year.