Wykeham, MN is a small suburb in the state of Minnesota. The town has a population of about 24,000 people and offers a peaceful atmosphere for families to live and relax. It is known for its low cost of living with 2-bedroom apartment rents averaging only $820, much lower than the US average of $1,430. Food costs are also notably lower than the national average with an index score of 94 compared to the US's 100. Wykeham hosts several local businesses such as Dansco Manufacturing Company, Inc., a metal processing company, Olson Construction Co., Inc., specializing in general construction services, and Wykeham Commons Shopping Center which provides a variety of shopping options. With its affordable rent prices and low grocery costs, Wykeham is an ideal place to live for those looking for an affordable lifestyle within close proximity to larger cities.
Wykeham has an unemployment rate of 5.4%. The US average is 6.0%.
Wykeham 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 Wykeham
- The Sales Tax Rate for Wykeham is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Wykeham 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 Wykeham
- The average income of a Wykeham resident is $20,108 a year. The US average is $28,555 a year.
- The Median household income of a Wykeham resident is $55,000 a year. The US average is $69,021 a year.