West Bank, MN is a small town located along the West Bank of the Mississippi River. It is known for its picturesque views of the river and its charming old-town atmosphere. The average 2 bedroom rent in West Bank, MN is $810 per month, which is significantly lower than the national average of $1,430. In terms of grocery cost index, West Bank has an index rating of 93 compared to the US average of 100.
West Bank has a few notable local businesses that contribute to the town's economy. These include Universal Steel Industries, B&G Foods Manufacturing, KJL Foods and Services Inc., and The King Farm Dairy Barn. Many residents also work at regional plants like Minnesota Soybean Processors and Archer Daniels Midland Company. These businesses provide jobs and services for residents in West Bank and surrounding areas.
West Bank has an unemployment rate of 5.6%. The US average is 6.0%.
West Bank has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 25.0%, which is lower than the US average of 33.5%.
Tax Rates for West Bank
- The Sales Tax Rate for West Bank is 6.9%. The US average is 7.3%.
- The Income Tax Rate for West Bank 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 West Bank
- The average income of a West Bank resident is $23,210 a year. The US average is $28,555 a year.
- The Median household income of a West Bank resident is $65,000 a year. The US average is $69,021 a year.