Danforth, MN is a small town in the upper Midwest region of the United States. The town's economy is driven by agriculture, tourism, and small businesses. These include family-owned restaurants, local boutiques, antique stores, and home-based businesses. With an average two bedroom rent of $990 per month, Danforth is a great choice for budget-minded renters looking for a comfortable place to live. In comparison to the US average two bedroom rent of $1,430 per month, Danforth offers over 30% savings on housing expenses. Additionally, the Grocery Cost Index in Danforth is only 96 compared to 100 in the US overall - making it cheaper to stock up on supplies than most other states.
Danforth has an unemployment rate of 7.7%. The US average is 6.0%.
Danforth has seen the job market decrease by -6.3% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Danforth
- The Sales Tax Rate for Danforth is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Danforth 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 Danforth
- The average income of a Danforth resident is $45,334 a year. The US average is $37,638 a year.
- The Median household income of a Danforth resident is $113,438 a year. The US average is $69,021 a year.