Lakeport, MN is a small town located in the Midwest United States. It has a population of around 1,500 people, according to the latest census data. The cost of living in Lakeport is quite affordable; 2 bedroom rent averages at $880 per month and groceries only cost 98% of what they do nationally. This low cost of living makes it an attractive destination for people looking to move to the area.
Despite its small size, Lakeport offers plenty of amenities and attractions that locals enjoy. There are several local businesses that cater to the city’s needs such as Olde World Bakery and Café, which serves freshly baked breads, cakes, and pastries; All-Weather Lumber Co., which sells building materials and supplies; and Lakeport Paint & Decorating Store which sells paint, wallpapers, carpets, and much more.
Lakeport has an unemployment rate of 6.1%. The US average is 6.0%.
Lakeport has seen the job market increase by 6.6% over the last year. Future job growth over the next ten years is predicted to be 45.6%, which is higher than the US average of 33.5%.
Tax Rates for Lakeport
- The Sales Tax Rate for Lakeport is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lakeport 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 Lakeport
- The average income of a Lakeport resident is $26,684 a year. The US average is $28,555 a year.
- The Median household income of a Lakeport resident is $67,826 a year. The US average is $69,021 a year.