Cromwell, MN is a small town located in Minnesota with a population of around 1000 people. The town is known for its low cost of living, with 2 bedroom rent being $1,130 compared to the US average of $1,430. Additionally, the grocery cost index is 98 against the US average of 100, making it one of the most affordable places to live.
The town hosts several renowned companies such as Cromwell Co-op Creamery which offers fresh dairy products made from locally sourced ingredients and offers educational tours to visitors. Other local businesses include the Cromwell Family Restaurant which serves classic American dishes and R&R Bar & Grill which specializes in burgers and other fast food items.
Living in Cromwell is not only affordable but also a great way to experience rural life with all its charms. Residents can enjoy various outdoor activities such as fishing, camping and hunting due to its proximity to several lakes and forests. The peaceful atmosphere and friendly neighbors make it a great place for raising children or just escaping the hustle and bustle of city life for a bit.
Cromwell has an unemployment rate of 5.3%. The US average is 6.0%.
Cromwell has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 30.6%, which is lower than the US average of 33.5%.
Tax Rates for Cromwell
- The Sales Tax Rate for Cromwell is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Cromwell 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 Cromwell
- The average income of a Cromwell resident is $19,047 a year. The US average is $28,555 a year.
- The Median household income of a Cromwell resident is $48,750 a year. The US average is $69,021 a year.