Homestead, MN is a small city located in the United States. It is known for its affordable housing and low cost of living. The average two bedroom rent in Homestead is only $880 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Homestead is 95 compared to 100 in the US. This makes it an attractive place to live for those who are looking to save money.
Residents of Homestead can benefit from the variety of local businesses in the area such as Valley View Farms, Moonshine Supper Club & Lounge, and The Livery Lake Bank Cafe. There are also plenty of recreational activities available in the area including biking along the Sakatah Singing Hills Trail, fishing at Shields Lake County Park, and golfing at Oshawa Valley Golf Course.
Homestead has an unemployment rate of 5.3%. The US average is 6.0%.
Homestead has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Homestead
- The Sales Tax Rate for Homestead is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Homestead 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 Homestead
- The average income of a Homestead resident is $26,191 a year. The US average is $28,555 a year.
- The Median household income of a Homestead resident is $64,250 a year. The US average is $69,021 a year.