Collins, MN is a small city located in Minnesota that is known for its low cost of living. The average rent for a two bedroom apartment in Collins is $850, which is significantly lower than the US average of $1,430. Similarly, the grocery cost index in Collins is 96 compared to the national average of 100 - meaning it costs less to buy groceries in Collins than it does across the country on average. This makes Collins an attractive place for people looking for an affordable lifestyle. There are several local companies in Collins such as Hahner’s Inc, Creative Memories, and Kennedy Manufacturing Company that provide job opportunities for residents. Overall, given its low cost of living when compared to the rest of the US, Collins is an ideal location for those seeking an affordable lifestyle and job opportunities with local companies.
Collins has an unemployment rate of 5.1%. The US average is 6.0%.
Collins has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Collins
- The Sales Tax Rate for Collins is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Collins 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 Collins
- The average income of a Collins resident is $29,760 a year. The US average is $28,555 a year.
- The Median household income of a Collins resident is $91,250 a year. The US average is $69,021 a year.