Soudan, Minnesota is a small town located in the northeastern part of the state. This town is home to many local businesses that provide employment opportunities for residents of Soudan and surrounding areas. Some well-known companies with locations in Soudan include Vermilion Country Suites, Iron Range Off Road Park, and Soudan Underground Mine State Park. When it comes to housing costs, renters can expect to pay an average of $860 per month for a two bedroom rental in Soudan versus $1,430 nationally. Groceries also tend to be more affordable here as the grocery cost index is 91 compared to 100 nationally. Overall, Soudan offers its residents an affordable place to live with plenty of local amenities.
Soudan has an unemployment rate of 4.8%. The US average is 6.0%.
Soudan 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 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Soudan
- The Sales Tax Rate for Soudan is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Soudan 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 Soudan
- The average income of a Soudan resident is $26,705 a year. The US average is $28,555 a year.
- The Median household income of a Soudan resident is $49,479 a year. The US average is $69,021 a year.