Corcoran, MN is an attractive residential area located in Hennepin County. It has a population of around 7,000 people and is known for its low cost of living. The average 2 bedroom rent in Corcoran is $1,800, which is cheaper than the US average of $1,430. Grocery costs in Corcoran also have a higher index than the US average at 106 compared to 100. This makes it an attractive place for those looking for more affordable housing options. The area features local companies such as B&D Machine & Tool Co., Total Comfort Solutions, and Gopher State Exteriors Inc., as well as popular attractions like the Minnesota Landscape Arboretum and Target Field Stadium.
Corcoran has an unemployment rate of 4.2%. The US average is 6.0%.
Corcoran has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Corcoran
- The Sales Tax Rate for Corcoran is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Corcoran 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 Corcoran
- The average income of a Corcoran resident is $42,924 a year. The US average is $28,555 a year.
- The Median household income of a Corcoran resident is $145,897 a year. The US average is $69,021 a year.