Rich Valley, MN is a small town with a tight-knit community. It offers an affordable living cost which is reflected in the 2 bedroom rent of $940 - much cheaper than the national average of $1,430. Even grocery shopping is more affordable here, with the Grocery Cost Index at 97 compared to 100 in the US. The town has many local stores including Rich Valley Hardware Store, Rich Valley Community Center, and Rich Valley Coffee House. There are also plenty of outdoor activities like hiking trails and parks for residents to enjoy. With its low cost of living and friendly atmosphere, it's no wonder why Rich Valley is such a great place to live.
Rich Valley has an unemployment rate of 5.1%. The US average is 6.0%.
Rich Valley has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Rich Valley
- The Sales Tax Rate for Rich Valley is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Rich Valley 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 Rich Valley
- The average income of a Rich Valley resident is $28,371 a year. The US average is $28,555 a year.
- The Median household income of a Rich Valley resident is $84,375 a year. The US average is $69,021 a year.