Carpenter, MN is a small town with a low cost of living. The two bedroom rent in Carpenter, MN is much lower than the national average at $950 per month compared to $1,430. Additionally, the Grocery Cost Index is 97 versus 100 in the US, making it an affordable place to live. Several local companies provide services for residents including Carpenter Hardware, Carpenter Home and Garden Store, and Carpenter Tax Services. With its low cost of living relative to other areas across the nation, Carpenter has become an attractive area for those looking to save money on rent and groceries while still having access to necessary services provided by local businesses.
Carpenter has an unemployment rate of 6.2%. The US average is 6.0%.
Carpenter has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Carpenter
- The Sales Tax Rate for Carpenter is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Carpenter 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 Carpenter
- The average income of a Carpenter resident is $16,762 a year. The US average is $28,555 a year.
- The Median household income of a Carpenter resident is $35,938 a year. The US average is $69,021 a year.