Folsom, MN is a small city in the United States with many local businesses. Popular companies found in Folsom include Folsom Manufacturing, Inc., Mid-America Foods, and Fox Valley Financial Solutions. The cost of living in Folsom is quite reasonable - the average 2 bedroom rent here is $760 compared to $1,430 in the US as a whole. Additionally, the grocery cost index is 91 versus 100 in the US. Overall, Folsom is an affordable place to live with plenty of job opportunities for residents.
Folsom has an unemployment rate of 5.0%. The US average is 6.0%.
Folsom has seen the job market increase by 2.1% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Folsom
- The Sales Tax Rate for Folsom is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Folsom 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 Folsom
- The average income of a Folsom resident is $21,534 a year. The US average is $28,555 a year.
- The Median household income of a Folsom resident is $88,125 a year. The US average is $69,021 a year.