Newburg, MN is a small midwestern town located in the heart of Minnesota. It has a population of approximately 2,000 people and is known for its friendly atmosphere. The city offers a wide range of attractions and activities to keep residents entertained including popular local companies such as Newburg Auto Repair and Burk’s Bakery. The cost of living in Newburg is fairly low, with rent for two bedroom apartments coming in at around $950 compared to the national average of $1,430. Additionally, the Grocery Cost Index in Newburg is 95 compared to 100 in the US, making it an affordable place to live.
Newburg has an unemployment rate of 4.7%. The US average is 6.0%.
Newburg has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Newburg
- The Sales Tax Rate for Newburg is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Newburg 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 Newburg
- The average income of a Newburg resident is $28,497 a year. The US average is $28,555 a year.
- The Median household income of a Newburg resident is $76,875 a year. The US average is $69,021 a year.