Freeborn, MN is a charming small town located in Southern Minnesota. It has a population of around 400 people and provides the comfort of small-town living with the convenience of easy access to larger cities like Minneapolis. The cost of living in Freeborn is lower than the US average, with two-bedroom rents costing $760 compared to a national average of $1,430. Groceries are also more affordable than the US, boasting an index score of 91 as opposed to 100 nationally. With its low cost of living and community feel, Freeborn attracts many families and businesses in search of the perfect balance between affordability and quality life. Local companies such as Dave's Bar & Grill, Freeway Tire Shop, and Freeborn Auto Repair provide great services for community members at competitive prices.
Freeborn has an unemployment rate of 4.5%. The US average is 6.0%.
Freeborn has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 22.6%, which is lower than the US average of 33.5%.
Tax Rates for Freeborn
- The Sales Tax Rate for Freeborn is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Freeborn 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 Freeborn
- The average income of a Freeborn resident is $25,475 a year. The US average is $28,555 a year.
- The Median household income of a Freeborn resident is $46,250 a year. The US average is $69,021 a year.