Cambridge, MN is an attractive small town that offers a peaceful lifestyle with a low cost of living in comparison to other places. Rent for a two bedroom apartment is only $1,240, which is $190 less than the US average of $1,430. Additionally, the Grocery Cost Index in Cambridge is 99 compared to 100 in the US. This makes it especially appealing for those looking for an affordable place to call home. \nThe town also provides plenty of job opportunities from local companies such as Rumble on the Lake Bar & Grill, Cornerstone Church and Gerten’s Greenhouses & Garden Centers. All these businesses provide excellent services and products for residents of Cambridge, Minnesota and beyond. With its inviting atmosphere and competitive cost of living, Cambridge is definitely worth considering when looking for an ideal place to live.
Cambridge has an unemployment rate of 6.2%. The US average is 6.0%.
Cambridge has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.2%, which is higher than the US average of 33.5%.
Tax Rates for Cambridge
- The Sales Tax Rate for Cambridge is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Cambridge 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 Cambridge
- The average income of a Cambridge resident is $22,815 a year. The US average is $28,555 a year.
- The Median household income of a Cambridge resident is $57,969 a year. The US average is $69,021 a year.