Caribou, MN is a charming town located in the North Central region of Minnesota. It has an estimated population of less than 4,000 residents and is situated just north of Interstate 94. The cost of living in Caribou is much lower compared to the average US costs making it an attractive location for those looking to get away from the hustle and bustle of city life. In terms of rent, 2 bedrooms apartments are available at an average price of $810 per month whereas the same type of accommodation would cost around $1,430 across the nation. Furthermore, grocery costs in this area are approximately 7% lower than the national average. Caribou offers plenty to do and see with local companies such as Caribou Coffee & Bakery offering delicious treats and Maplewood State Park beloved by hikers and nature-lovers alike.
Caribou has an unemployment rate of 4.0%. The US average is 6.0%.
Caribou has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 18.6%, which is lower than the US average of 33.5%.
Tax Rates for Caribou
- The Sales Tax Rate for Caribou is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Caribou 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 Caribou
- The average income of a Caribou resident is $28,308 a year. The US average is $37,638 a year.
- The Median household income of a Caribou resident is $0 a year. The US average is $69,021 a year.