Red Lake Falls township, MN is a small but thriving community located in northwestern Minnesota. It is home to approximately 1,700 people and offers an up-and-coming economy focused on agriculture, retail, and tourism. The cost of living in Red Lake Falls township is affordable with a 2 bedroom apartment renting for just $820 per month compared to the national average of $1,430. The grocery cost index in this area is also lower than the national average at 95 versus 100 in the US.
The local businesses of Red Lake Falls township offer much needed services and products to the local population. Some of these businesses include Hennen Hardware, Thompson Pharmacy, Jacobson's Grocery Store, and Health Partners Clinic. Each business provides quality service that benefits local citizens and helps foster a sense of community within Red Lake Falls township.
Red Lake Falls township has an unemployment rate of 6.0%. The US average is 6.0%.
Red Lake Falls township has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 15.7%, which is lower than the US average of 33.5%.
Tax Rates for Red Lake Falls township
- The Sales Tax Rate for Red Lake Falls township is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Red Lake Falls township 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 Falls township
- The average income of a Red Lake Falls township resident is $26,206 a year. The US average is $28,555 a year.
- The Median household income of a Red Lake Falls township resident is $55,000 a year. The US average is $69,021 a year.