Cormorant, MN is a small town with an attractive cost of living. The average rent for a two-bedroom apartment is $870 a month, which is much lower than the US average of $1,430 a month. Additionally, the Grocery Cost Index in Cormorant, MN is 101, compared to 100 in the US; this implies that prices in Cormorant are just one percent higher than national prices. Thus, Cormorant offers its citizens more attractive prices than many other cities. In addition to the affordable cost of living, Cormorant has several local companies such as Farmer Joe's Farm Produce Co., Patterson's Park Camping Ground Resort and Lafferty Supply Hardware Store that provide employment opportunities for its residents.
Cormorant has an unemployment rate of 5.3%. The US average is 6.0%.
Cormorant has seen the job market increase by 3.4% over the last year. Future job growth over the next ten years is predicted to be 34.0%, which is higher than the US average of 33.5%.
Tax Rates for Cormorant
- The Sales Tax Rate for Cormorant is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Cormorant 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 Cormorant
- The average income of a Cormorant resident is $38,740 a year. The US average is $28,555 a year.
- The Median household income of a Cormorant resident is $92,000 a year. The US average is $69,021 a year.