Lake City, MN (55041) is a small town located in Goodhue county with a population of 5,385. The cost of renting a two bedroom apartment here is $1,030 which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Lake City is 99 compared to 100 nationally.
The city has an array of local businesses that provide quality goods and services to its citizens. Some of these include B & H Marine Sales and Service, Karmel Financial Group, Chilson Jewelers, and Swanson’s Home Improvement Center. B & H Marine provides boat sales and repair services for those looking to explore the nearby lake while Karmel Financial Group provides financial planning services for those looking to build their wealth. Chilson Jewelers offers jewelry repair as well as custom pieces while Swanson’s Home Improvement Center has all your home renovation needs covered.
Lake City (zip 55041) has an unemployment rate of 4.4%. The US average is 6.0%.
Lake City (zip 55041) has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Lake City (zip 55041)
- The Sales Tax Rate for Lake City (zip 55041) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake City (zip 55041) 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 Lake City (zip 55041)
- The average income of a Lake City (zip 55041) resident is $39,646 a year. The US average is $37,638 a year.
- The Median household income of a Lake City (zip 55041) resident is $70,924 a year. The US average is $69,021 a year.