New Auburn, MN is a small city located in the state of Minnesota. It is a great place to live for those who want to live in a safe and affordable community. The median 2 bedroom rent is $850 compared to the US average of $1,430 which makes it an attractive option for those looking for an affordable place to live. Additionally, the Grocery Cost Index in New Auburn is 94 versus 100 in the US making local groceries more affordable than national averages.
New Auburn has many local businesses that provide employment opportunities and contribute to the city's overall economy. Local companies include Johnson Family Farms, Agri-Edge Inc., D&D Trucking & Excavating Service LLC, New Auburn Lumber Company, and Countryside Veterinary Clinic. These companies are essential parts of the New Auburn community and provide residents with jobs while contributing to its economic growth.
New Auburn has an unemployment rate of 5.3%. The US average is 6.0%.
New Auburn has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 29.8%, which is lower than the US average of 33.5%.
Tax Rates for New Auburn
- The Sales Tax Rate for New Auburn is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New Auburn 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 New Auburn
- The average income of a New Auburn resident is $17,864 a year. The US average is $28,555 a year.
- The Median household income of a New Auburn resident is $51,250 a year. The US average is $69,021 a year.