Spring Lake, MN is a great place to live. The rent for a two-bedroom apartment is only slightly more expensive than the US average at $1,450. Furthermore, the cost of goods is only 3 points higher than the US index making it an affordable place to call home. Spring Lake is home to many businesses that provide products and services to its citizens. For example, there is Joe’s Hardware Store which offers all kinds of tools and materials necessary for home improvement projects as well as smaller items such as nuts and bolts. Another great business in Spring Lake is Rachel’s Bakery where you can pick up delicious treats like cakes, cupcakes, donuts, and other sweet delicacies. Finally, you can take care of all your automotive needs at Dan’s Auto Repair shop which provides both repairs and maintenance services for all types of vehicles.
Spring Lake has an unemployment rate of 4.1%. The US average is 6.0%.
Spring Lake has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 38.2%, which is higher than the US average of 33.5%.
Tax Rates for Spring Lake
- The Sales Tax Rate for Spring Lake is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Spring 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 Spring Lake
- The average income of a Spring Lake resident is $37,909 a year. The US average is $28,555 a year.
- The Median household income of a Spring Lake resident is $114,954 a year. The US average is $69,021 a year.