Cherry Grove, MN is an excellent place for individuals and families looking for a small-town atmosphere with easy access to amenities. The two bedroom rent in this area is well below the national average at $970 compared to $1,430 in the US. Additionally, the Grocery Cost Index in Cherry Grove is 97 versus 100 in the US so food costs are also lower than many other areas.
This small town is home to a variety of local businesses including Anderson True Value Hardware, Biz Pro Auto Repair, Cherry Grove Veterinary Clinic and Hallmark Restaurant. There are many parks and green spaces for recreation as well as fishing, boating and paddle boarding on the nearby lakes. It's a great place to settle down due to its strong sense of community and affordability.
Cherry Grove has an unemployment rate of 4.6%. The US average is 6.0%.
Cherry Grove has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 28.0%, which is lower than the US average of 33.5%.
Tax Rates for Cherry Grove
- The Sales Tax Rate for Cherry Grove is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Cherry Grove 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 Cherry Grove
- The average income of a Cherry Grove resident is $29,088 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Grove resident is $71,250 a year. The US average is $69,021 a year.