Penn, MN is a small town located in Minnesota. It is a great place to live because it has a lot of local businesses such as restaurants, grocery stores, and banks. The cost of living is relatively low when compared to the rest of the United States, with an average two-bedroom rental price of $840 and grocery cost index of 96. Penn is home to several attractions, such as the historic North Star Dairy Farm and the nearby Lake Mille Lacs. There are also several residential developments such as Cedar Creek Estates and Loggers Pointe that offer quality homes at reasonable prices.
Penn has an unemployment rate of 5.1%. The US average is 6.0%.
Penn has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Penn
- The Sales Tax Rate for Penn is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Penn 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 Penn
- The average income of a Penn resident is $28,729 a year. The US average is $28,555 a year.
- The Median household income of a Penn resident is $89,583 a year. The US average is $69,021 a year.