Magnet, NE is a small town located in the midwest region of the US with a laid back atmosphere. The cost of living in Magnet is relatively inexpensive compared to the rest of the US. For instance, 2 bedroom rent in Magnet is $740 whereas it is $1,430 for the rest of US. Similarly, grocery cost index in Magnet stands at 91 compared to 100 in the US. There are several local companies offering various services such as Cotton Memorial Chapel which provides funeral services and K & A Automotive which offers auto repairs. In comparison to the US, Magnet provides more economical housing options but may not have the same variety of stores and services as larger cities across America.
Magnet has an unemployment rate of 2.0%. The US average is 6.0%.
Magnet has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 18.9%, which is lower than the US average of 33.5%.
Tax Rates for Magnet
- The Sales Tax Rate for Magnet is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Magnet is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Magnet
- The average income of a Magnet resident is $17,320 a year. The US average is $28,555 a year.
- The Median household income of a Magnet resident is $54,000 a year. The US average is $69,021 a year.