Red Rock, MN is a small town ideally located in the heart of Minnesota. It offers its citizens a peaceful and tranquil environment to live in, with two bedroom rentals averaging at $970 – cheaper than the US average of $1,430. Furthermore, groceries are also more affordable here, as the Grocery Cost Index is lower than the national average at 93. Local companies such as Red Rock Auto Parts and Royal Bank have provided job opportunities for residents of Red Rock for many years. Residents can also find employment at places such as The Lakeland Taco Shack and The Red Lantern Inn Restaurant & Bar.
Red Rock has an unemployment rate of 4.2%. The US average is 6.0%.
Red Rock has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 29.7%, which is lower than the US average of 33.5%.
Tax Rates for Red Rock
- The Sales Tax Rate for Red Rock is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Red Rock 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 Red Rock
- The average income of a Red Rock resident is $34,382 a year. The US average is $28,555 a year.
- The Median household income of a Red Rock resident is $84,750 a year. The US average is $69,021 a year.