Barnum, MN is a small town located in Northern Minnesota. It offers its residents an affordable cost of living with two bedroom rent at $1,050 a month and the US average for two bedrooms at $1,430. The Grocery Cost Index in Barnum is 97 versus 100 in the US. Locally owned businesses such as Downton Ace Hardware, Jimmy's Cafe & Restaurant, and Barnum Auto Parts provide services to the community and create employment opportunities for its citizens. Overall, Barnum is a great place to both visit and live as it provides affordable housing and goods to its residents.
Barnum has an unemployment rate of 5.3%. The US average is 6.0%.
Barnum has seen the job market decrease by -3.8% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for Barnum
- The Sales Tax Rate for Barnum is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Barnum 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 Barnum
- The average income of a Barnum resident is $27,271 a year. The US average is $37,638 a year.
- The Median household income of a Barnum resident is $44,583 a year. The US average is $69,021 a year.