Powers, MN is a small town located near the Minnesota border. It is a cozy and family-friendly community that offers many amenities. The cost of living in Powers is quite low with an average two bedroom rent of $850 compared to the US average of $1,430. Even cheaper is the grocery cost index which stands at 97 versus 100 in the US. As such, Powers can be seen as an affordable place for families to live and thrive. Local companies in Powers include Delano Glass, Inc., B&K Properties, Inc., and J & L Metalsmiths, Ltd. All of these businesses offer quality services to local residents and visitors alike.
Powers has an unemployment rate of 8.4%. The US average is 6.0%.
Powers has seen the job market increase by 9.2% over the last year. Future job growth over the next ten years is predicted to be 51.3%, which is higher than the US average of 33.5%.
Tax Rates for Powers
- The Sales Tax Rate for Powers is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Powers 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 Powers
- The average income of a Powers resident is $23,398 a year. The US average is $28,555 a year.
- The Median household income of a Powers resident is $58,462 a year. The US average is $69,021 a year.