Davis, MN is a small city located in the heart of Minnesota's Iron Range. It has a population of just over 1,000 people and is known for its relatively low cost of living. The median household income in Davis is $44,310 and the Cost of Living Index is 91, much lower than the national average. This makes it an attractive place for those looking to save money on rent and other expenses without sacrificing access to amenities.
Local companies in Davis include KK Wiese & Son Inc., a local trucking company; Davis-Ransome Lumber Co., which produces lumber products; and North Country Auto Parts Inc., which provides automotive parts to customers throughout the state. There are also numerous restaurants, shops, and recreational activities available in town.
Davis has an unemployment rate of 4.0%. The US average is 6.0%.
Davis has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 18.6%, which is lower than the US average of 33.5%.
Tax Rates for Davis
- The Sales Tax Rate for Davis is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Davis 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 Davis
- The average income of a Davis resident is $57,590 a year. The US average is $37,638 a year.
- The Median household income of a Davis resident is $91,250 a year. The US average is $69,021 a year.