Preston Lake, MN Economy


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United States / Minnesota / No Metro Area / Renville County / Preston Lake / Zip Codes
Preston Lake, MN is a small town in the Midwest with a population of several hundred people. It offers a quiet and peaceful suburban lifestyle while being close to nearby attractions and cities. The cost of living is low in Preston Lake compared to other places, with an average two-bedroom rent for $850 compared to $1,430 nationally. According to the Grocery Cost Index, groceries are also 4% cheaper in Preston Lake than in the US overall. Local companies include J&R Electronics, A+ Cleaning Services, and The Country Store. With its low cost of living and thriving local business community, Preston Lake offers great value for those looking for a relaxed suburban life that won't break the bank.

Preston Lake has an unemployment rate of 5.9%. The US average is 6.0%.

Preston Lake has seen the job market decrease by -1.4% over the last year. Future job growth over the next ten years is predicted to be 46.0%, which is higher than the US average of 33.5%.

Tax Rates for Preston Lake
- The Sales Tax Rate for Preston Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Preston 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 Preston Lake
- The average income of a Preston Lake resident is $35,030 a year. The US average is $37,638 a year.
- The Median household income of a Preston Lake resident is $55,893 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyPreston Lake, MinnesotaUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
    Unlock4.6%
    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
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