Elgin, MN is a quiet, small town located in the Midwest. The cost of living in Elgin is much less than the national average, with 2 bedroom rent at $1,010 per month compared to the US average of $1,430 per month. Additionally, grocery costs in Elgin are 99 on the Cost Index versus 100 in the US. Businesses located in Elgin include True Value Home Center, Kum & Go gas stations and convenience stores, and Old Market Place Antiques & Collectibles. The town also has modern amenities such as internet services provided by Agri-Valley Communications and Unite Private Networks. In addition to its many businesses and services, Elgin is known for its scenic views due to its location near both rolling hills and lakes. It's a great place to live or visit for anyone wanting a relaxing atmosphere while still having access to modern amenities and services.
Elgin has an unemployment rate of 4.4%. The US average is 6.0%.
Elgin 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 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Elgin
- The Sales Tax Rate for Elgin is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Elgin 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 Elgin
- The average income of a Elgin resident is $25,992 a year. The US average is $28,555 a year.
- The Median household income of a Elgin resident is $70,625 a year. The US average is $69,021 a year.