Biwabik is a small town located in Minnesota, with a variety of local businesses catering to the needs of its residents. There are many stores that provide everything from groceries to clothing. The cost of living in Biwabik is lower than the US average, as 2 bedroom rent for $830 compared to $1430 in the US. The grocery cost index in Biwabik is 92 versus 100 in the US. There are a few companies that have their headquarters here such as Iron Workers Credit Union and Minnesota Corn Processors. Overall, Biwabik offers an affordable lifestyle for its residents while providing them with all their necessary amenities.
Biwabik has an unemployment rate of 4.8%. The US average is 6.0%.
Biwabik has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Biwabik
- The Sales Tax Rate for Biwabik is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Biwabik 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 Biwabik
- The average income of a Biwabik resident is $21,857 a year. The US average is $28,555 a year.
- The Median household income of a Biwabik resident is $50,313 a year. The US average is $69,021 a year.