Alba, MN is a small town in the Midwest with a population of around 1,200 people. It is a great place to live for those looking for affordable rent, with two bedroom homes costing an average of $900 per month. Grocery costs are also low in Alba relative to other cities across the US, with an index of 94 compared to 100 nationally. The median income in Alba is $41,595 which is lower than the national median of $61,937. There are several local companies in Alba such as J&L Construction Inc., Main Street Hardware & Supply Co., and D&B Tax & Accounting Services that provide employment opportunities and services to the community.
Alba has an unemployment rate of 4.3%. The US average is 6.0%.
Alba has seen the job market decrease by -1.8% over the last year. Future job growth over the next ten years is predicted to be 6.7%, which is lower than the US average of 33.5%.
Tax Rates for Alba
- The Sales Tax Rate for Alba is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Alba 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 Alba
- The average income of a Alba resident is $24,793 a year. The US average is $28,555 a year.
- The Median household income of a Alba resident is $93,750 a year. The US average is $69,021 a year.