Forest City, MN is a small town located in the midwest and is known for its low cost of living. The average two-bedroom rent in Forest City is $880, which is significantly lower than the national average of $1,430. Furthermore, the grocery cost index in Forest City is 96 compared to the US index of 100, implying that groceries are relatively less expensive than those found in other parts of the country. The town also boasts several local businesses such as R&L Supermarket, Valley Vet Clinic, and Brickyard Pizza. Ultimately, Forest City offers an affordable lifestyle that residents can enjoy while still receiving excellent services from local providers.
Forest City has an unemployment rate of 5.2%. The US average is 6.0%.
Forest City has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Forest City
- The Sales Tax Rate for Forest City is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Forest City 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 Forest City
- The average income of a Forest City resident is $29,642 a year. The US average is $28,555 a year.
- The Median household income of a Forest City resident is $81,250 a year. The US average is $69,021 a year.