Granite Falls township, MN Economy

Granite Falls Township, MN is a great place to live with an affordable cost of living. The 2 bedroom rent in Granite Falls Township is $810 which is significantly lower than the national average of $1,430. The Grocery Cost Index in Granite Falls township is 95 versus the US at 100 indicating lower costs for groceries as well. Local businesses in the area include L&M Market, Mel's Diner, and Main Street Pizza & Taproom. Overall, Granite Falls township is a great place to live with an affordable cost of living compared to other areas in the US.

Granite Falls township has an unemployment rate of 4.4%. The US average is 6.0%.

Granite Falls township has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 24.4%, which is lower than the US average of 33.5%.

Tax Rates for Granite Falls township
- The Sales Tax Rate for Granite Falls township is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Granite Falls township 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 Granite Falls township
- The average income of a Granite Falls township resident is $35,291 a year. The US average is $28,555 a year.
- The Median household income of a Granite Falls township resident is $59,821 a year. The US average is $69,021 a year.

Income by Population Percent

Economy	Granite Falls township, Minnesota	United States
	4.4	6
	-2.9%	-6.2%
	24.4%	33.5%
	6.9%	6.2%
	7.1%	4.6%
	$25,555	$37,638
	$59,821	$69,021
	$98,125	$85,028
Population by Occupation
	17.6%	1.2%
	0.0%	0.5%
	11.8%	6.8%
	11.8%	10.0%
	1.2%	2.5%
	3.5%	11.0%
	7.1%	4.8%
	1.2%	0.8%
	0.0%	1.9%
	2.4%	4.7%
	1.2%	1.9%
	0.0%	7.6%
	0.0%	0.1%
	5.9%	4.2%
	1.2%	9.3%
	18.8%	14.0%
	3.5%	2.1%
	0.0%	7.0%
	5.9%	4.8%
	7.1%	4.7%