Oronoco, MN is a small town located just south of Rochester. It is known for its quaint charm and friendly locals. The economy of Oronoco is thriving due to the presence of local businesses such as Fern Farms Dairy, Minnesota Olive Oil Company, Weaver’s Hardware Store, and Oronoco Bar & Grill. The cost of living in Oronoco is slightly higher than the US average, with 2 bedroom rent costing $1,580 compared to the US average of $1430. Grocery costs are also higher in Oronoco with a Grocery Cost Index at 104 versus 100 in the US. Despite the higher cost of living in Oronoco compared to other areas across the country, it remains an attractive place to live due to its charming atmosphere and wide range of amenities.
Oronoco has an unemployment rate of 3.7%. The US average is 6.0%.
Oronoco 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 33.6%, which is higher than the US average of 33.5%.
Tax Rates for Oronoco
- The Sales Tax Rate for Oronoco is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Oronoco 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 Oronoco
- The average income of a Oronoco resident is $36,892 a year. The US average is $28,555 a year.
- The Median household income of a Oronoco resident is $133,611 a year. The US average is $69,021 a year.