Virginia, MN is a small city located in Northern Minnesota. It is home to around 8,500 people and has a low cost of living. Rent for a two-bedroom apartment in Virginia, MN is about $940 per month which is significantly lower than the national average of $1430. Additionally, the grocery cost index in Virginia is only 92 compared to 100 in the US making food more affordable here. The local economy is thriving due to major companies like Minnesota Power and U.S Steel Minnesota Ore Operations that are both headquartered there. Other notable employers include Essentia Health and Rocky Ridge Mining Company Ltd. Virginia also serves as a hub for shopping with stores like Walmart Supercenter and Target nearby. With an affordable cost of living and plenty of job opportunities, it’s no wonder why so many people are choosing to live in Virginia, MN.
Virginia has an unemployment rate of 4.8%. The US average is 6.0%.
Virginia 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 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Virginia
- The Sales Tax Rate for Virginia is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Virginia 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 Virginia
- The average income of a Virginia resident is $20,824 a year. The US average is $28,555 a year.
- The Median household income of a Virginia resident is $44,014 a year. The US average is $69,021 a year.