The small town of Red Lake, Minnesota (56671) is home to a population of approximately 1,000 people. Despite its size, the town offers a wide selection of amenities, including an affordable average two-bedroom rent cost of $1,080 - considerably lower than the national average. Similarly, residents enjoy low grocery costs with the Grocery Cost Index ranking at 91 compared to the US average of 100.
Red Lake is fortunate to have several local businesses in town which contribute to the community’s economy and culture. These include Red Lake Grocery & Deli, Northern Lights Hardware & Rental Center, Redby Food Market and Pizza Hut Express. Additionally, there are a few restaurants such as Big Bear's Sports Bar and Grill and Pizza Hut Express which offer casual dining options for locals and visitors alike.
Red Lake (zip 56671) has an unemployment rate of 5.1%. The US average is 6.0%.
Red Lake (zip 56671) has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 29.5%, which is lower than the US average of 33.5%.
Tax Rates for Red Lake (zip 56671)
- The Sales Tax Rate for Red Lake (zip 56671) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Red Lake (zip 56671) 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 Red Lake (zip 56671)
- The average income of a Red Lake (zip 56671) resident is $10,478 a year. The US average is $28,555 a year.
- The Median household income of a Red Lake (zip 56671) resident is $47,098 a year. The US average is $69,021 a year.