Ponto Lake, MN is a small town in northern Minnesota with a population of under 10,000 people. The cost of living in Ponto Lake is very affordable. The average cost for two-bedroom rent is $870 compared to the US average of $1,430. Grocery costs are also generally less expensive than elsewhere in the country with an index score of 96 out of 100 compared to the US as a whole. Local companies that can be found in this area include Prairie Yarns & Fibers which offers unique local artistry through yarns and fibers, and Wolf Spirit Enterprises which provides Native American crafts and services. Ponto Lake residents enjoy low housing costs and access to unique local businesses that make living in this charming town worth it.
Ponto Lake has an unemployment rate of 8.4%. The US average is 6.0%.
Ponto Lake 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 Ponto Lake
- The Sales Tax Rate for Ponto Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Ponto Lake 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 Ponto Lake
- The average income of a Ponto Lake resident is $28,106 a year. The US average is $37,638 a year.
- The Median household income of a Ponto Lake resident is $58,750 a year. The US average is $69,021 a year.