Okabena, MN is a small town with a population of about 500 people. It is located in the southwestern corner of Minnesota and is close to many larger cities such as Sioux Falls and Omaha. The main industries in the area are agriculture, retail, and tourism. Residents of Okabena enjoy lower rental prices than most areas in the US; for instance, a two bedroom apartment costs $840 compared to the US average of $1430. Additionally, grocery costs index at 93 versus 100 in the US.
The city has several local businesses including a hardware store and general merchandise store called Okabena General Store as well as a family owned restaurant and bar called Barley & Biscuits that serves delicious home-cooked food. There are several local attractions including Lake Okabena which offers fishing, boating, swimming, and camping as well as several hiking trails throughout town. There are also annual events such as an Easter egg hunt on the first Saturday in April every year. With its affordable rent prices and natural beauty, Okabena is an ideal hometown for those looking to live near major cities but still have the benefits of small town life.
Okabena has an unemployment rate of 4.3%. The US average is 6.0%.
Okabena has seen the job market decrease by -1.8% over the last year. Future job growth over the next ten years is predicted to be 6.7%, which is lower than the US average of 33.5%.
Tax Rates for Okabena
- The Sales Tax Rate for Okabena is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Okabena 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 Okabena
- The average income of a Okabena resident is $20,397 a year. The US average is $28,555 a year.
- The Median household income of a Okabena resident is $83,125 a year. The US average is $69,021 a year.