Baldwin, MN is a small town located near the Minnesota River in the southern part of the state. It is a great place to live with plenty of recreational activities and outdoor spaces. The local economy is primarily driven by agriculture, but there are also some small businesses and industry that provide employment opportunities for residents.
The two bedroom rent in Baldwin averages around $1,320 per month which is slightly lower than the national average. The grocery cost index in Baldwin is on par with the U.S., making food costs reasonable for locals.
Some of the major local companies in Baldwin include Sparboe Farms, Minnesota Valley Pipelines and MnDOT-Minnesota Department of Transportation. There are also several family-owned businesses such as Keith’s Do it Best Hardware Store, Wessel's Market and Cafe, and Fischer Auto Parts & Machine Shop that contribute to Baldwin’s economy and provide valuable services to the community.
Baldwin has an unemployment rate of 4.9%. The US average is 6.0%.
Baldwin has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 38.1%, which is higher than the US average of 33.5%.
Tax Rates for Baldwin
- The Sales Tax Rate for Baldwin is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Baldwin 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 Baldwin
- The average income of a Baldwin resident is $38,098 a year. The US average is $37,638 a year.
- The Median household income of a Baldwin resident is $97,625 a year. The US average is $69,021 a year.