Stockholm, MN is a small town located in the state of Minnesota with a population of 617 inhabitants. The cost of living in the area is quite low due to its low rent prices and grocery costs. For example, 2 bedroom rent in Stockholm, MN is $1,210 compared to $1,430 for the same type of rent in the US. Additionally, the Grocery Cost Index in Stockholm is 98 compared to 100 for the US. There are several local companies based in the area such as Ullman's Lumber & Building Supply Co., Hodgins Swede Valley Farms Inc., and Kateson Auto Body Shop Inc., which contribute to the economic growth of Stockholm.
Stockholm has an unemployment rate of 4.5%. The US average is 6.0%.
Stockholm has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.1%, which is higher than the US average of 33.5%.
Tax Rates for Stockholm
- The Sales Tax Rate for Stockholm is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Stockholm 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 Stockholm
- The average income of a Stockholm resident is $27,756 a year. The US average is $28,555 a year.
- The Median household income of a Stockholm resident is $86,875 a year. The US average is $69,021 a year.