Freedom, MN is a small city located in the northern part of the state. It is known for its affordable cost of living and welcoming community. The average 2 bedroom rent in Freedom is $970 which is much lower than the US average of $1,430. Additionally, groceries cost less in Freedom with an index of 96 compared to 100 nation wide.
The local economy is driven by several companies such as Freedom Feeds, a family owned feed mill; The Discount Corner Store, offering daily deals on groceries; and Northern Hills Health Care Center, providing medical services for all citizens of Freedom. All these businesses contribute to the development and growth of the city's economy.
Freedom has an unemployment rate of 6.0%. The US average is 6.0%.
Freedom has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Freedom
- The Sales Tax Rate for Freedom is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Freedom 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 Freedom
- The average income of a Freedom resident is $30,170 a year. The US average is $28,555 a year.
- The Median household income of a Freedom resident is $84,375 a year. The US average is $69,021 a year.