Germantown, MN is a charming suburban city located northwest of Minneapolis with a population of just under 24,700 people according to the 2019 census. The rental costs for two-bedroom apartments are quite affordable at $820 on average compared to the national average of $1,430. Residents also benefit from an overall cost of living that is below average when compared to other nearby cities. Popular local businesses include Kwik Trip convenience stores, Wacker's Bar & Grill, and Island Lake Park. With friendly neighbors and a wide variety of amenities Germantown is the perfect place for those looking for an affordable and pleasant home in Minnesota.
Germantown has an unemployment rate of 4.1%. The US average is 6.0%.
Germantown has seen the job market increase by 4.8% over the last year. Future job growth over the next ten years is predicted to be 12.8%, which is lower than the US average of 33.5%.
Tax Rates for Germantown
- The Sales Tax Rate for Germantown is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Germantown 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 Germantown
- The average income of a Germantown resident is $38,280 a year. The US average is $37,638 a year.
- The Median household income of a Germantown resident is $85,625 a year. The US average is $69,021 a year.