Spring Hill, MN is an affordable place to live. Its two bedroom rent costs $970 which is significantly lower than the national average of $1,430. Additionally, the Grocery Cost Index in Spring Hill is 96 compared to the US index of 100. This makes groceries more cost effective for residents. Local companies that operate in Spring Hill include Sprint, Minnkota Power Cooperative and Fastenal Company. These businesses contribute to the growth of Spring Hill's economy and provide employment opportunities for its residents.
Spring Hill has an unemployment rate of 4.7%. The US average is 6.0%.
Spring Hill 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 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Spring Hill
- The Sales Tax Rate for Spring Hill is 7.6%. The US average is 7.3%.
- The Income Tax Rate for Spring Hill 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 Spring Hill
- The average income of a Spring Hill resident is $17,803 a year. The US average is $28,555 a year.
- The Median household income of a Spring Hill resident is $75,662 a year. The US average is $69,021 a year.