Washington Lake, MN is a city located in the northwest region of the state. It is known for its diverse population and outdoor activities, such as fishing, hunting, hiking, and camping. The cost of living in Washington Lake is relatively low. According to recent statistics, the rent for a two-bedroom apartment is $1,440 compared to the national average of $1,430. Additionally there is also a grocery cost index at 98 versus 100 in the US. \nThere are many local companies based in Washington Lake that serve the community. These include Nordson Corporation which specializes in engineering and manufacturing products for industrial processes globally; and Micro Focus which develops software solutions for enterprise IT organizations. In addition to these two major companies there are smaller businesses that offer services in retail stores, restaurants, and medical facilities as well as professional services like accountancy firms.
Washington Lake has an unemployment rate of 5.3%. The US average is 6.0%.
Washington Lake has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 29.8%, which is lower than the US average of 33.5%.
Tax Rates for Washington Lake
- The Sales Tax Rate for Washington Lake is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Washington 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 Washington Lake
- The average income of a Washington Lake resident is $27,127 a year. The US average is $28,555 a year.
- The Median household income of a Washington Lake resident is $88,542 a year. The US average is $69,021 a year.