Barrett, MN is a small town in Minnesota with an affordable cost of living. The average rent for a two bedroom apartment costs only $830 per month, which is much lower than the national average of $1,430. Also, groceries are cheaper than the US index - 96 versus 100. There are a number of local businesses that serve the town, such as Barrett Hardware and Groceries, Barrett Construction Company and Barrett Pharmacy. People in Barrett enjoy taking advantage of these convenient services while saving money on their everyday purchases.
Barrett has an unemployment rate of 5.4%. The US average is 6.0%.
Barrett has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 22.4%, which is lower than the US average of 33.5%.
Tax Rates for Barrett
- The Sales Tax Rate for Barrett is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Barrett 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 Barrett
- The average income of a Barrett resident is $26,020 a year. The US average is $37,638 a year.
- The Median household income of a Barrett resident is $43,571 a year. The US average is $69,021 a year.