Ceresco, MN is a small town situated in southeastern Minnesota. It has a population of approximately 1000 people and offers affordable living with an average 2-bedroom rent of $1000 per month, significantly lower than the national average of $1,430. The cost of groceries here is also relatively low, with an index rating of 96 compared to the 100 in the US.
The local economy of Ceresco is mainly driven by small businesses such as L&R Grocery & Gas Station, River Road Bar & Grill and C&L Hardware Store. All these stores are owned and operated by local families and have been serving the community for generations. Aside from that, there are several other mom-and-pop shops like Ron's Auto Repair Center, A&A Pizza Parlor, H&M Auto Parts, and Jodie's Cafe which provide job opportunities for residents while also contributing to the overall vibrancy of Ceresco.
Ceresco has an unemployment rate of 3.9%. The US average is 6.0%.
Ceresco has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 37.2%, which is higher than the US average of 33.5%.
Tax Rates for Ceresco
- The Sales Tax Rate for Ceresco is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Ceresco 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 Ceresco
- The average income of a Ceresco resident is $31,861 a year. The US average is $28,555 a year.
- The Median household income of a Ceresco resident is $90,417 a year. The US average is $69,021 a year.