Buffalo Lake, MN (55314) is an area with high affordability for its residents. With a two-bedroom rent rate of only $850 per month, the cost of living in this area is significantly lower than the US average of $1,430 per month. This also allows for cheaper grocery costs as well, with an index rating of 96 versus 100 in the US.
The city of Buffalo Lake provides plenty of local companies and community resources for its citizens. Notable businesses include Super America, Country Auto Repair & Sales, Ace Hardware, and Pizza Ranch. Meanwhile, community resources such as a public library and park provide educational and recreational activities that residents can enjoy throughout the year.
Buffalo Lake (zip 55314) has an unemployment rate of 5.9%. The US average is 6.0%.
Buffalo Lake (zip 55314) has seen the job market increase by 6.7% over the last year. Future job growth over the next ten years is predicted to be 46.0%, which is higher than the US average of 33.5%.
Tax Rates for Buffalo Lake (zip 55314)
- The Sales Tax Rate for Buffalo Lake (zip 55314) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Buffalo Lake (zip 55314) 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 Buffalo Lake (zip 55314)
- The average income of a Buffalo Lake (zip 55314) resident is $26,876 a year. The US average is $28,555 a year.
- The Median household income of a Buffalo Lake (zip 55314) resident is $62,708 a year. The US average is $69,021 a year.