Elba, Minnesota is a small town located in the Midwest. The population is relatively small compared to other parts of the country, although it does provide many amenities for its residents. It has a good selection of local businesses including supermarkets, restaurants, and shops that provide services such as banking and insurance. Rent prices are quite reasonable for a two bedroom apartment in Elba at $900 per month compared to the national average of $1430. Additionally, groceries have an index of 97 which is slightly cheaper than the national average of 100. In general, Elba offers an affordable cost of living for its residents while still having plenty to offer them such as access to good schools and plenty of job opportunities in the surrounding area.
Elba has an unemployment rate of 3.7%. The US average is 6.0%.
Elba has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 24.9%, which is lower than the US average of 33.5%.
Tax Rates for Elba
- The Sales Tax Rate for Elba is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Elba 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 Elba
- The average income of a Elba resident is $15,211 a year. The US average is $28,555 a year.
- The Median household income of a Elba resident is $48,750 a year. The US average is $69,021 a year.