Leaf River, MN is a small town nestled in the heart of Minnesota. It's known for its scenic beauty with lush green hills and tranquil riversides. As such, it is a popular destination for tourists and locals alike. The cost of living in Leaf River is significantly lower than other areas in the United States; two bedroom rent averages at $830 while the US average is at $1,430. Moreover, grocery costs are 93 versus 100 in the US. Several local businesses have helped to keep the cost of living low in Leaf River such as Benny's Hardware Store, which has been serving the community since 1950 and offering discounts to local shoppers; Joe's Grocery Store that stocks fresh produce from local farmers; and Carver Valley Bank - one of the oldest banks in town with competitive rates on loans and savings accounts. These businesses play a vital role in maintaining a lower cost of living in Leaf River by providing competitive prices on goods and services to their customers.
Leaf River has an unemployment rate of 6.9%. The US average is 6.0%.
Leaf River has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 4.3%, which is lower than the US average of 33.5%.
Tax Rates for Leaf River
- The Sales Tax Rate for Leaf River is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Leaf River 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 Leaf River
- The average income of a Leaf River resident is $30,457 a year. The US average is $37,638 a year.
- The Median household income of a Leaf River resident is $73,167 a year. The US average is $69,021 a year.