Rochester township, MN is a town located in the state of Minnesota. With its close proximity to major cities such as Minneapolis and St. Paul, Rochester offers convenient access to employment opportunities, recreation centers, shopping malls, and much more. Notable local companies include Mayo Clinic, IBM Corporation, Target Corporation, and Think Finance. The population of Rochester is estimated to be 15,311 people according to the last census data in 2020. In terms of housing costs, the 2 Bedroom Rent in Rochester township is around $1,450 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Rochester also shows a higher cost with a score of 102 compared to the US's 100.
Rochester township has an unemployment rate of 3.7%. The US average is 6.0%.
Rochester township has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 33.6%, which is higher than the US average of 33.5%.
Tax Rates for Rochester township
- The Sales Tax Rate for Rochester township is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Rochester township 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 Rochester township
- The average income of a Rochester township resident is $90,841 a year. The US average is $28,555 a year.
- The Median household income of a Rochester township resident is $211,250 a year. The US average is $69,021 a year.