New Minden, IL is a great place to live for those looking for an affordable lifestyle. The 2 bedroom rent in New Minden is significantly cheaper than the US average, at $840 compared to $1,430. Additionally, the Grocery Cost Index in New Minden is 95 versus 100 in the US indicating that food costs are below average. There are many local businesses in New Minden such as Wilkenson's Grocers, Stocker Plumbing, and Coleson Motors which provide services essential for daily life. Overall, living in New Minden offers a great balance between affordability and quality of life making it an attractive option for residents looking for a new home.
New Minden has an unemployment rate of 2.7%. The US average is 6.0%.
New Minden has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 35.9%, which is higher than the US average of 33.5%.
Tax Rates for New Minden
- The Sales Tax Rate for New Minden is 6.3%. The US average is 7.3%.
- The Income Tax Rate for New Minden is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New Minden
- The average income of a New Minden resident is $22,850 a year. The US average is $28,555 a year.
- The Median household income of a New Minden resident is $58,125 a year. The US average is $69,021 a year.