New Munich, MN is a small town located in Stearns County, Minnesota. It is a great area for families to call home due to its low 2 bedroom rent at $980 compared to the high average 2 bedroom rent in the U.S. at $1,430. The cost of groceries here is also lower than the national average with a grocery cost index of 96 compared to 100 in the US. New Munich, MN has many local businesses including Haus Chateau Winery & Bistro offering delicious food and wine, Kenneth Heuer farms providing fresh produce and meats, and Good Nature Landscaping for all your landscaping needs. All these businesses make New Munich, MN an ideal place to live while also offering a great cost of living compared to other cities across the country.
New Munich has an unemployment rate of 4.7%. The US average is 6.0%.
New Munich has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 33.8%, which is higher than the US average of 33.5%.
Tax Rates for New Munich
- The Sales Tax Rate for New Munich is 7.1%. The US average is 7.3%.
- The Income Tax Rate for New Munich 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 Munich
- The average income of a New Munich resident is $23,193 a year. The US average is $28,555 a year.
- The Median household income of a New Munich resident is $77,656 a year. The US average is $69,021 a year.