Lorain, MN is a small town located in the midwest. It is known for its friendly, laid-back atmosphere and affordable living costs. The average two bedroom rent in Lorain is $930, compared to the US average of $1,430. Grocery costs here are also more affordable, with an index of 96 compared to 100 in the US.
The city has several businesses that serve its population such as Lorain Family Pharmacy, JMS Computers and Augustana Care Corporation. There are also a variety of recreational activities available including golfing at Blackberry Ridge Golf Course and fishing at Lake Waconia. Other attractions include the National Eagle Center and Carver Park Reserve which offer great outdoor activities like bird-watching and hiking. With its low cost of living and range of activities on offer, Lorain makes for an ideal place to settle down.
Lorain has an unemployment rate of 3.7%. The US average is 6.0%.
Lorain has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Lorain
- The Sales Tax Rate for Lorain is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lorain is 7.1%. The US average is 4.6%.
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Income and Salaries for Lorain
- The average income of a Lorain resident is $31,593 a year. The US average is $37,638 a year.
- The Median household income of a Lorain resident is $86,250 a year. The US average is $69,021 a year.