Skelton, MN is a small city with plenty of charm and appeal. It offers affordable rents with 2 bedroom apartments at only $1,050 per month, while the average for the US is $1,430. Additionally, Skelton has lower grocery costs than many other places in the country at 97 versus 100 in the US. This makes it an attractive option for potential renters looking to save money on their monthly living expenses.
The local economy of Skelton is primarily comprised of businesses such as Taylor's Auto Sales & Service, Skelton Electric Supply Inc., and J&R Construction Co.. These companies provide jobs and services to the local community and help drive economic development in the area. With its low cost of living and bustling business presence, Skelton is an ideal choice for renters who want to save money while still having access to all that a city has to offer.
Skelton has an unemployment rate of 5.3%. The US average is 6.0%.
Skelton has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for Skelton
- The Sales Tax Rate for Skelton is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Skelton 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 Skelton
- The average income of a Skelton resident is $24,994 a year. The US average is $28,555 a year.
- The Median household income of a Skelton resident is $75,750 a year. The US average is $69,021 a year.