Alvarado, Minnesota is a small town located in Otter Tail County. It is a great place to live offering a low cost of living that is significantly lower than the US average. Specifically, 2 bedroom rent averages $960, which is much lower than the US average of $1430. Additionally, groceries are also cheaper here as the Grocery Cost Index clocks in at 93 compared to 100 in the US.
There are plenty of local businesses for residents to support such as Alvarado Catering Company, Alvarado Family Market and Alvarado Mercantile shop. With such low costs of living it can be difficult to find housing or other goods and services that are expensive but luckily Alvarado has affordable options for everyone.
Alvarado has an unemployment rate of 6.6%. The US average is 6.0%.
Alvarado 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 12.9%, which is lower than the US average of 33.5%.
Tax Rates for Alvarado
- The Sales Tax Rate for Alvarado is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Alvarado 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 Alvarado
- The average income of a Alvarado resident is $21,634 a year. The US average is $28,555 a year.
- The Median household income of a Alvarado resident is $70,833 a year. The US average is $69,021 a year.