56554 Lake Park, MN is an excellent place to live. It offers a low cost of living with 2 bedroom rent being around $860 compared to the US average of $1,430. Grocery shoppers will appreciate the Grocery Cost Index in the area which is 102 versus the US average of 100.
Lake Park has several local companies like BlackRidgeBANK Lakeside branch, Prime Bank, and Alerus Financial branch that offer excellent services to its citizens. In addition to these businesses there are also a variety of restaurants and shops that offer unique products. For those looking for outdoor activities Lakeside Park and Campground offer canoeing, kayaking, hiking, biking trails and more.
Overall, 56554 Lake Park is an affordable place to live with plenty of attractions and amenities nearby. Residents can enjoy all the benefits of living in a small town while still having access to many modern comforts.
Lake Park (zip 56554) has an unemployment rate of 5.3%. The US average is 6.0%.
Lake Park (zip 56554) has seen the job market decrease by -2.2% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Lake Park (zip 56554)
- The Sales Tax Rate for Lake Park (zip 56554) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lake Park (zip 56554) 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 Park (zip 56554)
- The average income of a Lake Park (zip 56554) resident is $38,344 a year. The US average is $37,638 a year.
- The Median household income of a Lake Park (zip 56554) resident is $77,500 a year. The US average is $69,021 a year.