Excelsior, MN is a small town located in the Minneapolis metropolitan area that offers residents a peaceful atmosphere with easy access to a variety of local attractions and amenities. The cost of living is relatively low compared to the rest of the United States—2 bedroom apartments for rent are $1,380 and the grocery cost index is 109 versus 100 in the US. Local companies such as the Excelsior Brewing Company and Excelsior Bay Books offer visitors a unique shopping experience. Outdoor enthusiasts can explore nearby Lake Minnetonka or take advantage of outdoor activities like hiking, biking, and fishing at the nearby parks. Residents also have access to great restaurants, bakeries, and cafes all within walking distance.
Excelsior has an unemployment rate of 4.2%. The US average is 6.0%.
Excelsior has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Excelsior
- The Sales Tax Rate for Excelsior is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Excelsior 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 Excelsior
- The average income of a Excelsior resident is $48,416 a year. The US average is $28,555 a year.
- The Median household income of a Excelsior resident is $88,000 a year. The US average is $69,021 a year.