Arago, MN is a small city located near the Minnesota border. It is known for its low cost of living with a 2 bedroom rent of $910 per month compared to the national average of $1,430. The grocery cost index in Arago is also significantly lower than the US average, at 98 versus 100. \nThere are several local companies that help make up Arago's economy, such as the Arago Valley Bank, the Arago Public Library, and the B & D General Store. These businesses work together to provide residents with affordable goods and services that keep living costs down in comparison to other cities. Furthermore, Arago's close proximity to Minneapolis offers residents easy access to larger shopping centers and entertainment options found in bigger cities. As such, living in Arago provides an interesting combination of small town charm and big city amenities while still keeping costs low.
Arago has an unemployment rate of 6.1%. The US average is 6.0%.
Arago has seen the job market increase by 6.6% over the last year. Future job growth over the next ten years is predicted to be 45.6%, which is higher than the US average of 33.5%.
Tax Rates for Arago
- The Sales Tax Rate for Arago is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Arago 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 Arago
- The average income of a Arago resident is $26,520 a year. The US average is $28,555 a year.
- The Median household income of a Arago resident is $71,875 a year. The US average is $69,021 a year.