Vermilion Lake, MN is a small rural town located near the border of Minnesota and Wisconsin. The population of Vermilion Lake is only around 2,000 people. The town offers a variety of activities from fishing to camping and hiking in nearby parks. The rent for a two bedroom apartment in Vermilion Lake is slightly cheaper than the US average at $1,230 compared to $1,430 nationally. Groceries are also relatively inexpensive with an index of 99 versus 100 nationally. There are several local businesses in Vermilion Lake including grocery stores, hardware stores, restaurants, and auto repair shops. There are also a number of outdoor recreational opportunities including bike trails, lakeside beaches, and nature reserves. Vermilion Lake is a great place to live for those who enjoy peace and quiet but still want access to modern amenities.
Vermilion Lake has an unemployment rate of 4.8%. The US average is 6.0%.
Vermilion Lake has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Vermilion Lake
- The Sales Tax Rate for Vermilion Lake is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Vermilion 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 Vermilion Lake
- The average income of a Vermilion Lake resident is $28,267 a year. The US average is $28,555 a year.
- The Median household income of a Vermilion Lake resident is $70,625 a year. The US average is $69,021 a year.