Monticello, MN is a town in the state of Minnesota with a population of about 10,000 people. It is known for its low cost of living and quality of life, which can be seen in the fact that 2 bedroom rent is $1,270 compared to the US average of $1,430. Similarly, the Grocery Cost Index in Monticello is 100 versus 100 in the US on average. Local companies include Waconia Manufacturing Company Inc., CenterPoint Energy, and Grazzini Brothers & Co. These businesses work to provide resources and employment for the community of Monticello and contribute to its local economy.
Monticello has an unemployment rate of 4.5%. The US average is 6.0%.
Monticello has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.1%, which is higher than the US average of 33.5%.
Tax Rates for Monticello
- The Sales Tax Rate for Monticello is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Monticello 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 Monticello
- The average income of a Monticello resident is $28,188 a year. The US average is $28,555 a year.
- The Median household income of a Monticello resident is $73,651 a year. The US average is $69,021 a year.