Red Lake, MN is a small city in northern Minnesota with an estimated population of 1,100 people. It is known for its scenic lake views and quiet atmosphere, making it an excellent place to live regardless of whether you want to work or just relax. The cost of living in Red Lake is relatively low as compared to other parts of the US. For example, the average rent for a two bedroom apartment here is $1,050 compared to the US average of $1,430. Groceries are also inexpensive—the grocery cost index in Red Lake is 91 compared to 100 in the US.
Red Lake offers several local businesses including grocery stores such as K mart and Dollar General, hardware stores like JJ’s Hardware Store and NAPA Auto Parts; restaurants like MTN View Family Restaurant; and medical facilities such as Red Lake Medical Center and Red Lake Pharmacy. All of these companies offer goods or services at competitive prices that make life in Red Lake affordable for those who choose to live there.
Red Lake has an unemployment rate of 5.1%. The US average is 6.0%.
Red Lake has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 29.5%, which is lower than the US average of 33.5%.
Tax Rates for Red Lake
- The Sales Tax Rate for Red Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Red 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 Red Lake
- The average income of a Red Lake resident is $10,990 a year. The US average is $28,555 a year.
- The Median household income of a Red Lake resident is $50,494 a year. The US average is $69,021 a year.