Elk, MN is a small rural town located in the Midwest part of the United States. It has a quiet atmosphere with friendly people and is a great place to live for anyone looking for a peaceful community. Although Elk has many benefits living there, it's cost of living is quite affordable compared to other cities in the US. A two bedroom rental in Elk will cost around $920 while the same size apartment would go for $1,430 elsewhere in the country. The grocery cost index is also lower than that of larger cities with Elk coming in at 96 versus 100 in the US.
For employment opportunities, some local companies include Elk Manufacturing, Elk Creek Electric Company and Olson Automotive Services. All three of these businesses are known for offering competitive wages and excellent benefits making them attractive choices for those who are looking to make Elk their home.
Elk has an unemployment rate of 3.7%. The US average is 6.0%.
Elk 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 Elk
- The Sales Tax Rate for Elk is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Elk 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 Elk
- The average income of a Elk resident is $42,702 a year. The US average is $37,638 a year.
- The Median household income of a Elk resident is $94,688 a year. The US average is $69,021 a year.