Lafayette, MN (56054) is a small city located in the southeastern region of Minnesota. Its population is estimated to be around 1,500 people. The average two-bedroom rental rate in Lafayette is $880, which is significantly lower than the national average of $1,430. Additionally, the Grocery Cost Index in Lafayette is 96 versus 100 nationally, indicating that food costs are relatively low as well.
Lafayette provides great access to nature with numerous parks and trails nearby as well as attractions such as Lake Byllesby Regional Park, Cannon Valley Trail, and Miesville Ravine Park Reserve. There are also a number of local businesses to explore including Snyders Drug Store, Dybvig’s Market & Deli, and Heartland Bank & Trust Company.
Lafayette (zip 56054) has an unemployment rate of 3.6%. The US average is 6.0%.
Lafayette (zip 56054) has seen the job market decrease by -3.2% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Lafayette (zip 56054)
- The Sales Tax Rate for Lafayette (zip 56054) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lafayette (zip 56054) 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 Lafayette (zip 56054)
- The average income of a Lafayette (zip 56054) resident is $32,888 a year. The US average is $37,638 a year.
- The Median household income of a Lafayette (zip 56054) resident is $83,750 a year. The US average is $69,021 a year.