Cormant, MN is a small town located in the Midwest. This quaint town offers residents great amenities such as local stores, restaurants and parks. For those looking for a more affordable place to live, Cormant has some of the lowest rental prices in the nation with an average 2 bedroom apartment costing $1,060 compared the US average of $1,430. Groceries are also quite affordable with a grocery cost index of 94 versus 100 in the US. Some local companies include Cormant Farms which offers fresh produce and meats as well as Cormant Hardwoods which specializes in custom woodworking projects. Residents can enjoy outdoor activities at Lake Cormant or visit Main Street for a variety of shops and eateries.
Cormant has an unemployment rate of 5.1%. The US average is 6.0%.
Cormant has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 29.5%, which is lower than the US average of 33.5%.
Tax Rates for Cormant
- The Sales Tax Rate for Cormant is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Cormant 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 Cormant
- The average income of a Cormant resident is $21,377 a year. The US average is $28,555 a year.
- The Median household income of a Cormant resident is $47,500 a year. The US average is $69,021 a year.