Iona, MN is a small town located in the southern part of the state. It is known for its peaceful atmosphere and affordable living costs. The average 2 bedroom rent in Iona, MN is $840, which is significantly lower than the US average at $1,430. Additionally, food costs are also cheaper as compared to other places in the US with an index rate of 93 versus 100.
The local economy is mainly driven by agriculture and small businesses with some popular names like Iona State Bank and Rich Cutz Barbershop. Outdoor enthusiasts will appreciate the nearby city parks that have hiking trails and camping spots while art lovers can explore galleries like Iona Area Arts Council and Iona Art House & Studios. With its laidback lifestyle and cost-effective living options, Iona, MN is a great place to call home.
Iona has an unemployment rate of 6.4%. The US average is 6.0%.
Iona has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 20.4%, which is lower than the US average of 33.5%.
Tax Rates for Iona
- The Sales Tax Rate for Iona is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Iona 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 Iona
- The average income of a Iona resident is $23,354 a year. The US average is $28,555 a year.
- The Median household income of a Iona resident is $46,071 a year. The US average is $69,021 a year.