Knife River, MN (55609) is a small town in Lake County, located on the North Shore of Lake Superior. Its population is approximately 500 people. The town has one grocery store, Northern Lights Grocery Store, which offers competitive prices for locals and visitors alike. Additionally, the 2 bedroom rent in Knife River is around $1,050 per month which is slightly lower than the US average of $1,430 per month. In addition to this value pricing, Knife River also has a Grocery Cost Index value of 105 versus 100 in the US. This index helps indicate how much greater or lesser food costs are compared to other areas in the country. The town's close proximity to Lake Superior lends itself to a variety of outdoor activities such as fishing and hiking on nearby trails or taking a ferry across the lake to Grand Marais. There are several local businesses that benefit from knife river's location such as Blue Water Bait & Tackle which sells all sorts of fishing gear and bait while North Shore Marine Services offers boat repair services. All these benefits make Knife River an ideal place for anyone looking for natural beauty paired with affordability and convenience.
Knife River (zip 55609) has an unemployment rate of 5.1%. The US average is 6.0%.
Knife River (zip 55609) has seen the job market decrease by -7.7% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Knife River (zip 55609)
- The Sales Tax Rate for Knife River (zip 55609) is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Knife River (zip 55609) 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 Knife River (zip 55609)
- The average income of a Knife River (zip 55609) resident is $38,693 a year. The US average is $37,638 a year.
- The Median household income of a Knife River (zip 55609) resident is $69,426 a year. The US average is $69,021 a year.