Pine Island, MN is a great place to live with affordable rent and low cost of living. The average 2 bedroom rent is $1,130 compared to the US average of $1,430. The Grocery Cost Index in Pine Island is 100, which is the same as the US average. Pine Island has many local businesses including Pine Island Market, River City Hardware & Supply, and Luce Line Gardens and Nursery. There are also many attractions in the area such as Powerhouse Bar & Grill, Zumbro Valley Winery, and History Center of Olmsted County. Whether it’s exploring nature or dining out with friends, Pine Island has something for everyone.
Pine Island has an unemployment rate of 4.6%. The US average is 6.0%.
Pine Island has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 28.0%, which is lower than the US average of 33.5%.
Tax Rates for Pine Island
- The Sales Tax Rate for Pine Island is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Pine Island 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 Pine Island
- The average income of a Pine Island resident is $40,992 a year. The US average is $28,555 a year.
- The Median household income of a Pine Island resident is $74,844 a year. The US average is $69,021 a year.