Beaver Falls, MN is a quaint town located just outside of Minneapolis, Minnesota. It is known for its affordable housing cost with an average rent of $800 for a two bedroom apartment. The cost of living in Beaver Falls is also lower than the national average with a Grocery Cost Index of 94 compared to the US average of 100. The small town has several local businesses that contribute to its economy such as C&C Plastics, Carlson Manufacturing Company and Logistics Health Incorporated. Residents are also able to enjoy activities like swimming at Lake Zumbro or taking in some beautiful views at Beaver Meadows Park.
Beaver Falls has an unemployment rate of 5.9%. The US average is 6.0%.
Beaver Falls has seen the job market decrease by -1.4% over the last year. Future job growth over the next ten years is predicted to be 46.0%, which is higher than the US average of 33.5%.
Tax Rates for Beaver Falls
- The Sales Tax Rate for Beaver Falls is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Beaver Falls 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 Beaver Falls
- The average income of a Beaver Falls resident is $35,659 a year. The US average is $37,638 a year.
- The Median household income of a Beaver Falls resident is $58,750 a year. The US average is $69,021 a year.