Spalding, MN is a small town located in the heart of Minnesota. The cost of living is quite affordable, with the average two bedroom rental rate at $850, which is much lower than the US average of $1,430. Additionally, the Grocery Cost Index in Spalding is 97 versus 100 in the US. This small town has many local businesses including Anderson Lumber, Spalding Floral & Greenhouse, and J-Bar Clothing Company. People are drawn to this friendly community for its low cost of living and close knit atmosphere.
Spalding has an unemployment rate of 7.1%. The US average is 6.0%.
Spalding has seen the job market increase by 2.8% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Spalding
- The Sales Tax Rate for Spalding is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Spalding 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 Spalding
- The average income of a Spalding resident is $18,046 a year. The US average is $28,555 a year.
- The Median household income of a Spalding resident is $44,464 a year. The US average is $69,021 a year.