Sterling, MN is a small town with a population of about 500 people located in Northeastern Minnesota. It is known for its scenic beauty and proximity to many outdoor activities such as fishing, hiking, hunting, and camping. Local companies include Sterling Hardware, Sterling Lumber Company, and Sterling Auto Repair. The cost of living in Sterling is significantly lower than the US average. Rent for a 2 bedroom apartment is $890 compared to $1,430 nationwide. Grocery costs are also lower with an index of 95 compared to 100 nationally.
Sterling has an unemployment rate of 3.9%. The US average is 6.0%.
Sterling has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 37.2%, which is higher than the US average of 33.5%.
Tax Rates for Sterling
- The Sales Tax Rate for Sterling is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Sterling 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 Sterling
- The average income of a Sterling resident is $32,909 a year. The US average is $28,555 a year.
- The Median household income of a Sterling resident is $89,375 a year. The US average is $69,021 a year.