Deerwood, MN is a small city located about three hours north of the Twin Cities area. With a population of just over 1,000 people, Deerwood offers its residents a peaceful and quiet lifestyle. The cost of living in Deerwood is relatively low compared to other cities in the US with 2 bedroom rents averaging $1,020 per month compared to the national average of $1,430. Additionally, the grocery cost index in Deerwood is 98 versus 100 nationally. There are many local businesses and services that serve the community such as R&D Automotive Repair and Sales, Shoreline Fishing Charters and Guides, and D & J Party Store.
Deerwood has an unemployment rate of 6.0%. The US average is 6.0%.
Deerwood has seen the job market decrease by -2.9% over the last year. Future job growth over the next ten years is predicted to be 42.5%, which is higher than the US average of 33.5%.
Tax Rates for Deerwood
- The Sales Tax Rate for Deerwood is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Deerwood 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 Deerwood
- The average income of a Deerwood resident is $26,560 a year. The US average is $37,638 a year.
- The Median household income of a Deerwood resident is $44,750 a year. The US average is $69,021 a year.