Fairmont township, MN is an ideal suburb of Minneapolis. It offers affordable living with two bedroom rent at $830 compared to the US average of $1,430. This affordability extends beyond housing as groceries are also cheaper in Fairmont township. The Grocery Cost Index in Fairmont township is 95 versus 100 in the US. Local businesses include restaurants such as The Nook Café and Pizza Ranch, as well as pharmacies like Walgreens and CVS. Popular landmarks include Handke Pit, Root River Trail Park, and the Big Rock Trail Park. All of these features make Fairmont Township a great place for families or people looking for an affordable community close to the city of Minneapolis.
Fairmont township has an unemployment rate of 4.3%. The US average is 6.0%.
Fairmont township has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Fairmont township
- The Sales Tax Rate for Fairmont township is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Fairmont township 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 Fairmont township
- The average income of a Fairmont township resident is $38,087 a year. The US average is $28,555 a year.
- The Median household income of a Fairmont township resident is $81,563 a year. The US average is $69,021 a year.