Ada, MN is a small town in north-central Minnesota with a population of approximately 3,500. It has plenty of local amenities such as restaurants, shops, and entertainment venues. The cost of living in Ada is surprisingly low with rent for a two bedroom apartment being only $810 compared to the US average of $1,430. Grocery costs are also lower here than the national average with an index of 93 compared to 100 in the US. There are several local businesses operating in Ada such as Grandma’s Bakery, which provides freshly baked goods daily; Bella Boutique Ladies Apparel that offers stylish and affordable clothing; and M&M Automotive for car repair services. All in all, Ada is a great place to live at an affordable cost.
Ada has an unemployment rate of 5.7%. The US average is 6.0%.
Ada has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Ada
- The Sales Tax Rate for Ada is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Ada 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 Ada
- The average income of a Ada resident is $24,246 a year. The US average is $28,555 a year.
- The Median household income of a Ada resident is $53,750 a year. The US average is $69,021 a year.