New Market, MN is a small town located in the Midwest with a population of just over 2,000 people. It is known for its affordable housing options, with two bedroom rents being approximately $1,750. This is significantly lower than the US two bedroom average rent of $1,430. Additionally, the Grocery Cost Index in New Market is 104 compared to 100 in the rest of the US.
When visiting New Market you should definitely check out their local businesses such as Jenkins Creative Services and Seven Relics Brewery. Nature lovers will enjoy exploring Twin Valley Park which has an abundance of hiking trails and wildlife viewing opportunities. History buffs will be interested in learning about local history at the Mill City Museum and Historic Forestville Townsite or discovering some artifacts through treasure hunting on their own.
New Market has an unemployment rate of 4.1%. The US average is 6.0%.
New Market 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 38.2%, which is higher than the US average of 33.5%.
Tax Rates for New Market
- The Sales Tax Rate for New Market is 7.4%. The US average is 7.3%.
- The Income Tax Rate for New Market 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 Market
- The average income of a New Market resident is $42,360 a year. The US average is $28,555 a year.
- The Median household income of a New Market resident is $136,648 a year. The US average is $69,021 a year.