Riceville, MN is a small city located in Freeborn County with a population of 802. It has two major companies, namely the Shearers Foods Incorporated and the Freeborn-Mower Cooperative Services. Riceville is a great place to live if you are looking for affordability. The average 2 bedroom rent in Riceville is $860 which is significantly lower than the national average of $1,430. Additionally, Riceville's grocery cost index is 98 versus 100 in the US which indicates that groceries are slightly cheaper in Riceville than they are nationally. All together, these factors make Riceville an attractive option for those who want to save money on everyday living expenses.
Riceville has an unemployment rate of 5.3%. The US average is 6.0%.
Riceville has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Riceville
- The Sales Tax Rate for Riceville is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Riceville 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 Riceville
- The average income of a Riceville resident is $23,673 a year. The US average is $28,555 a year.
- The Median household income of a Riceville resident is $111,250 a year. The US average is $69,021 a year.