Byron, Minnesota is a small town located in Olmsted County. It has an estimated population of a little over 4,000 residents. Byron is a great place to live with its affordable rent prices and low cost of living. The average 2 bedroom rent is about $1,250 compared to the US average of $1,430. The grocery cost index in Byron is also lower than that of the US at 100 versus 100.
The town of Byron has several local attractions for both visitors and residents alike. For those interested in culture there is the Mayo Civic Center which hosts performances and art exhibits throughout the year. Other popular attractions include Quarry Hill Nature Center and Oxbow Park which provide outdoor activities like fishing, camping, hiking trails and more! There are also plenty of local businesses ranging from restaurants to retail stores such as The Western Store, Mayowood Market and Schleif Hardware Store & Rental Center.
Byron has an unemployment rate of 3.7%. The US average is 6.0%.
Byron has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 33.6%, which is higher than the US average of 33.5%.
Tax Rates for Byron
- The Sales Tax Rate for Byron is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Byron 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 Byron
- The average income of a Byron resident is $30,457 a year. The US average is $28,555 a year.
- The Median household income of a Byron resident is $112,622 a year. The US average is $69,021 a year.