King, MN is a small town located in northeastern Minnesota. It has several local companies for residents to work at such as King Lumber, King Hardware Store, and King Feed Store. The cost of living in King is relatively low compared to other parts of the country. The average two-bedroom rent is only $830 compared to the US average of $1,430. Additionally, the Grocery Cost Index is 95 versus 100 in the US. All these factors make King an affordable place to live with plenty of job opportunities.
King has an unemployment rate of 4.9%. The US average is 6.0%.
King has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 24.2%, which is lower than the US average of 33.5%.
Tax Rates for King
- The Sales Tax Rate for King is 7.1%. The US average is 7.3%.
- The Income Tax Rate for King 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 King
- The average income of a King resident is $25,965 a year. The US average is $28,555 a year.
- The Median household income of a King resident is $87,083 a year. The US average is $69,021 a year.