Hennepin County, Minnesota is a great place to live. With a diverse economy, the county has numerous notable companies such as 3M, Target Corporation, UnitedHealth Group, Cargill, Best Buy, General Mills and U.S. Bank. The county is also known for its affordable cost of living with rent on two bedroom apartments averaging around $1,410 compared to $1,430 in the US as a whole. Grocery costs are similarly lower in Hennepin County than in other places in the country with an index of 103 versus 100 nationally. This makes it attractive for people looking for an affordable place to call home.
Hennepin County has an unemployment rate of 4.2%. The US average is 6.0%.
Hennepin County 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 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Hennepin County
- The Sales Tax Rate for Hennepin County is 7.7%. The US average is 7.3%.
- The Income Tax Rate for Hennepin County 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 Hennepin County
- The average income of a Hennepin County resident is $38,125 a year. The US average is $28,555 a year.
- The Median household income of a Hennepin County resident is $85,438 a year. The US average is $69,021 a year.