Albert Lea township in Minnesota is an ideal place to live. The cost of living is significantly lower than the US average, with two bedroom rentals costing $900 compared to the national average of $1,430. Additionally, groceries are relatively cheaper in Albert Lea township as the Grocery Cost Index is 94 versus 100 in the US.
The area has a great selection of local stores and companies offering all the essential services for day-to-day life. There are plenty of shopping centres, such as Mill Pond Centre and Marketplace Foods. For entertainment, there are popular spots like Country Inn & Suites by Radisson and Grand Cinema 16. There are also many outdoor activities available at Myre Big Island State Park and Heritage Acres Park.
Albert Lea township has an unemployment rate of 4.5%. The US average is 6.0%.
Albert Lea township has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 22.6%, which is lower than the US average of 33.5%.
Tax Rates for Albert Lea township
- The Sales Tax Rate for Albert Lea township is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Albert Lea township 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 Albert Lea township
- The average income of a Albert Lea township resident is $31,193 a year. The US average is $28,555 a year.
- The Median household income of a Albert Lea township resident is $85,833 a year. The US average is $69,021 a year.