Austin, MN is a great place to live with a variety of local businesses and attractions to explore. At an average 2 Bedroom rent of $970 per month, this small city in Minnesota is extremely affordable compared to the US average of $1,430. Similarly, grocery costs in Austin are much lower than the national average with an index of 93.
Local companies include Hormel Foods Corporation, which has grown to become one of America’s largest food companies since its founding in 1891; Vibrant Credit Union offering convenient financial services; and H&G Manufacturing producing quality steel products for agricultural and industrial use. Austin also offers a number of attractions from outdoor recreation like lakeside camping at Cedar River Park to historical tours at Spam Museum featuring interactive exhibits about the renowned canned meat.
Austin has an unemployment rate of 4.2%. The US average is 6.0%.
Austin has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 29.7%, which is lower than the US average of 33.5%.
Tax Rates for Austin
- The Sales Tax Rate for Austin is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Austin 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 Austin
- The average income of a Austin resident is $23,649 a year. The US average is $28,555 a year.
- The Median household income of a Austin resident is $54,320 a year. The US average is $69,021 a year.