Princeton, MN is a small town located in central Minnesota with a population of 5,162 as of 2018. It is known for its rural charm and peaceful atmosphere. Princeton is home to many local companies, including Dairy Farmers of America, Wausau Paper Mills, and Cargill Ag Horizons. The cost of living in Princeton is quite affordable compared to the national average. Rent for a two-bedroom apartment is $1,200 per month while the US average stands at $1,430. Additionally, the grocery Cost Index in Princeton is 99 versus 100 in the US - making it an attractive option for those looking for a more budget-friendly lifestyle.
Princeton has an unemployment rate of 7.9%. The US average is 6.0%.
Princeton has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 31.9%, which is lower than the US average of 33.5%.
Tax Rates for Princeton
- The Sales Tax Rate for Princeton is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Princeton 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 Princeton
- The average income of a Princeton resident is $20,699 a year. The US average is $28,555 a year.
- The Median household income of a Princeton resident is $43,968 a year. The US average is $69,021 a year.