Lima, MN is a small town in Minnesota with a population of less than 2,000 people. It is located in Freeborn County and has a variety of local businesses, including R&R Custom Buildings Inc., Lima Veterinary Clinic, and Corcoran Appliance Repair. The town has an affordable 2-bedroom rent rate of $880 compared to the US rate of $1,430. Additionally, Lima's grocery cost index is 96 compared to 100 in the US; this means that the overall cost of groceries in Lima is slightly lower than in other parts of the country. With its low cost of living and variety of local businesses, Lima is an excellent place for those looking for a peaceful home or vacation spot.
Lima has an unemployment rate of 8.4%. The US average is 6.0%.
Lima has seen the job market increase by 9.2% over the last year. Future job growth over the next ten years is predicted to be 51.3%, which is higher than the US average of 33.5%.
Tax Rates for Lima
- The Sales Tax Rate for Lima is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Lima 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 Lima
- The average income of a Lima resident is $20,039 a year. The US average is $28,555 a year.
- The Median household income of a Lima resident is $36,250 a year. The US average is $69,021 a year.