Otter Tail Peninsula, MN is an idyllic location situated in northern Minnesota. It has a small population and is surrounded by beautiful lakes and rivers. The cost of living in Otter Tail Peninsula, MN is quite low with the rent for a two bedroom apartment being only $890 compared to the national average rent of $1,430 for the same size apartment. The Grocery Cost Index is also low at 94 compared to 100 nationally.
The region hosts numerous businesses who serve both local and regional customers. Examples of local companies include Snowy's Service Station which provides general automotive services, T-Time Golf Course which offers golfing services, Smith's Flower Shop which specializes in flower arrangements, and White Bear Lake Campground where visitors can camp or stay in cabins while taking advantage of fishing opportunities on White Bear Lake.
Otter Tail Peninsula has an unemployment rate of 8.4%. The US average is 6.0%.
Otter Tail Peninsula has seen the job market decrease by -5.2% over the last year. Future job growth over the next ten years is predicted to be 51.3%, which is higher than the US average of 33.5%.
Tax Rates for Otter Tail Peninsula
- The Sales Tax Rate for Otter Tail Peninsula is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Otter Tail Peninsula 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 Otter Tail Peninsula
- The average income of a Otter Tail Peninsula resident is $38,287 a year. The US average is $37,638 a year.
- The Median household income of a Otter Tail Peninsula resident is $49,375 a year. The US average is $69,021 a year.