Concord, MN is a vibrant city located in Minnesota. It provides residents with a variety of amenities and services, including affordable rent prices. The 2 bedroom rent in Concord is $1,200 while the US average of 2 bedroom rent is $1,430. This makes it an attractive option for those looking to save on their housing expenses. Additionally, the grocery cost index in Concord is 97 versus 100 in the US making groceries much more affordable.
The city has several local companies that have helped shape its economy. Some examples include Bluestem Communications Inc., Midland Business Solutions Inc., Sentry Bank & Trust Co., Eagle Community Credit Union and Insight Credit Union. These businesses provide numerous employment opportunities to individuals and families living in and around Concord. This helps create a thriving economy in the area which bolsters local businesses as well as encourages commercial growth and development.
Concord has an unemployment rate of 4.9%. The US average is 6.0%.
Concord has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 30.4%, which is lower than the US average of 33.5%.
Tax Rates for Concord
- The Sales Tax Rate for Concord is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Concord 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 Concord
- The average income of a Concord resident is $40,471 a year. The US average is $28,555 a year.
- The Median household income of a Concord resident is $74,432 a year. The US average is $69,021 a year.