The Lakes, MN is a small town in Minnesota that offers a variety of options to its residents. The rent for a two bedroom apartment in The Lakes, MN is much more affordable than the US average at $820 compared to $1,430. Additionally, grocery costs are lower than the US average, with an index of 95 versus 100 nationally. As such, those looking for an affordable place to live in Minnesota can certainly benefit from living in this small town.
The Lakes, MN boasts several local companies that offer products and services to the citizens of this city. For example, The Lakes Florist provides beautiful bouquets and floral arrangements for any occasion from weddings to birthdays. The Lakes General Store is a great place to find locally sourced food items as well as souvenirs from the area. Finally, Crazy Dave's Car Care can help drivers keep their cars running smooth with quality mechanics and repairs performed onsite. All these businesses contribute to making The Lakes a great place to live.
The Lakes has an unemployment rate of 6.4%. The US average is 6.0%.
The Lakes has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 20.4%, which is lower than the US average of 33.5%.
Tax Rates for The Lakes
- The Sales Tax Rate for The Lakes is 6.9%. The US average is 7.3%.
- The Income Tax Rate for The Lakes 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 The Lakes
- The average income of a The Lakes resident is $37,641 a year. The US average is $28,555 a year.
- The Median household income of a The Lakes resident is $88,750 a year. The US average is $69,021 a year.