Biwabik township, MN is a small town located in Minnesota. It is known for its peaceful atmosphere and close-knit community. The cost of living in Biwabik township is much lower than the national average. Rent for a two bedroom apartment is only $850 while the US average of the same size apartment is $1,430. The grocery cost index is also significantly lower than the national average at 94 versus 100. For those looking to save money while still having plenty of amenities, Biwabik township may be an ideal location to call home.
In terms of employment opportunities, there are many local companies that one can choose from when seeking work in Biwabik township such as Northshore Mining Company, UPM-Kymmene Inc., Minntac Mining Company, and Hibbing Taconite Co. All of these businesses provide good job opportunities with competitive salaries for those living in or near the area.
Overall, Biwabik township provides an ideal lifestyle for those looking to relax and enjoy a peaceful atmosphere while also taking advantage of all the benefits that come with living close to Minnesota’s largest cities. With low rent prices and a grocery cost index below the national average, it makes this small town an affordable place to live without sacrificing quality or convenience.
Biwabik township has an unemployment rate of 4.8%. The US average is 6.0%.
Biwabik township has seen the job market decrease by -4.0% 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 township
- The Sales Tax Rate for Biwabik township is 8.4%. The US average is 7.3%.
- The Income Tax Rate for Biwabik township 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 township
- The average income of a Biwabik township resident is $38,932 a year. The US average is $37,638 a year.
- The Median household income of a Biwabik township resident is $64,833 a year. The US average is $69,021 a year.