Stowe Prairie, MN is a small town located in Minnesota with a population of 2,000 people. Despite its size, Stowe Prairie offers a variety of businesses that support the local economy. The local companies include a grocery store, pharmacy, hardware store, hair salon, auto repair shop, and restaurants. Compared to the US average rent for two bedroom apartments of $1,430, the rent in Stowe Prairie only averages out to $810 per month making it more accessible for those looking to move here. Additionally, the Grocery Cost Index in Stowe Prairie is 94 versus 100 in the US indicating that groceries are cheaper here than on average in the United States. This low cost of living combined with its wide array of local businesses makes Stowe Prairie an attractive place to live.
Stowe Prairie has an unemployment rate of 5.4%. The US average is 6.0%.
Stowe Prairie has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 35.6%, which is higher than the US average of 33.5%.
Tax Rates for Stowe Prairie
- The Sales Tax Rate for Stowe Prairie is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Stowe Prairie 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 Stowe Prairie
- The average income of a Stowe Prairie resident is $24,732 a year. The US average is $28,555 a year.
- The Median household income of a Stowe Prairie resident is $67,083 a year. The US average is $69,021 a year.