McGrath, MN is a small town in central Minnesota. It is known for its friendly atmosphere, lush forests, and welcoming people. Local companies include McGrath Manufacturing Corporation and Thomas Supply Co. The cost of living in McGrath is quite affordable; two-bedroom rent is only $850 compared to the national average of $1,430. Additionally, the grocery cost index in McGrath sits at 96 whereas the US index is at 100; this means groceries are relatively cheaper here than elsewhere in the country. All things considered, McGrath offers an excellent quality of life with a much lower cost of living than other cities across America.
McGrath has an unemployment rate of 7.1%. The US average is 6.0%.
McGrath has seen the job market increase by 2.8% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for McGrath
- The Sales Tax Rate for McGrath is 6.9%. The US average is 7.3%.
- The Income Tax Rate for McGrath 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 McGrath
- The average income of a McGrath resident is $19,620 a year. The US average is $28,555 a year.
- The Median household income of a McGrath resident is $7,188 a year. The US average is $69,021 a year.