Grand Rapids, MN is a small city located in the northern part of Minnesota. It is known for its natural beauty and low cost of living. The average two bedroom rent in Grand Rapids is $980 which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Grand Rapids stands at 98 versus 100 in the US as a whole. This means that day to day expenses are typically lower than most areas of the country.
Grand Rapids has a thriving economy with large companies like Blandin Paper Company and WESTconsin Credit Union setting up shop here. Smaller local businesses are also popular and give locals unique options for goods and services. Popular attractions include Deer Lake, Reif Arts Center, Chippewa National Forest, and Judy Garland Museum. With its lush scenery and affordable cost of living, Grand Rapids is an excellent place to live or visit!
Grand Rapids has an unemployment rate of 6.2%. The US average is 6.0%.
Grand Rapids has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Grand Rapids
- The Sales Tax Rate for Grand Rapids is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids 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 Grand Rapids
- The average income of a Grand Rapids resident is $21,307 a year. The US average is $28,555 a year.
- The Median household income of a Grand Rapids resident is $51,498 a year. The US average is $69,021 a year.