Litchfield, Minnesota is a small city located near the Twin Cities. It is known for having a strong sense of community and many local businesses, such as Litchfield Bakery, Litchfield Motors, and Christensen's Department Store. The cost of living in Litchfield is quite affordable. For example, 2 bedroom rent is $900 compared to the US average of $1,430; while the Grocery Cost Index here is 96 compared to 100 nationally. Living in Litchfield allows people to take advantage of all that it has to offer while still being able to save money on basic everyday expenses.
Litchfield has an unemployment rate of 5.2%. The US average is 6.0%.
Litchfield 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 26.8%, which is lower than the US average of 33.5%.
Tax Rates for Litchfield
- The Sales Tax Rate for Litchfield is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Litchfield 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 Litchfield
- The average income of a Litchfield resident is $23,835 a year. The US average is $28,555 a year.
- The Median household income of a Litchfield resident is $49,457 a year. The US average is $69,021 a year.