Roy Lake, MN is a small city located in the heart of Minnesota. It is known for its affordable cost of living, with the average 2 bedroom rent being only $810 compared to the national average of $1,430. This makes it an attractive destination for people seeking more bang for their buck in terms of rent prices. Additionally, Roy Lake has an impressive Grocery Cost Index score of 93 versus 100 for the US on average, making it a great option for budget-minded shoppers. When it comes to shopping, the city is home to many popular stores and local businesses such as Walgreens, Target, and Roy Lake Supermarket. For those looking to save money while still enjoying all that Roy Lake has to offer, there is no better place to be!
Roy Lake has an unemployment rate of 8.7%. The US average is 6.0%.
Roy Lake has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 23.2%, which is lower than the US average of 33.5%.
Tax Rates for Roy Lake
- The Sales Tax Rate for Roy Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Roy 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 Roy Lake
- The average income of a Roy Lake resident is $26,375 a year. The US average is $28,555 a year.
- The Median household income of a Roy Lake resident is $101,250 a year. The US average is $69,021 a year.