Morristown, MN is a small town located in the Minnesota region. The median income is above the national average and it has many amenities that make it an attractive place to live. The cost of living, especially rent, is quite affordable with the typical two-bedroom rent coming in at $1,060 compared to the US average of $1,430. Additionally, groceries are more affordable than the national average with a grocery cost index of 99 versus 100 in the US. Local companies include Morristown Foods, Countryside Veterinary Services, and B & J Paving & Excavating Inc. There are also several shops and restaurants to explore such as Magpie Coffee House and Tony's Corner Tap. All in all, Morristown is a great place to call home!
Morristown has an unemployment rate of 4.2%. The US average is 6.0%.
Morristown has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 37.9%, which is higher than the US average of 33.5%.
Tax Rates for Morristown
- The Sales Tax Rate for Morristown is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Morristown 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 Morristown
- The average income of a Morristown resident is $22,274 a year. The US average is $28,555 a year.
- The Median household income of a Morristown resident is $56,346 a year. The US average is $69,021 a year.