Greenwood, MN is a small town with a population of just over 600 people. It is located in south-central Minnesota and offers excellent access to outdoor activities such as hiking, skiing, and fishing. Despite its small size, Greenwood boasts a variety of local businesses including The Corner Pub, an award winning restaurant, and Greenwood Furniture Store. The cost of living in Greenwood is very reasonable with the average two bedroom rent only slightly lower than the US average at $1,380. Grocery costs are relatively low as well with a grocery cost index of 109 compared to 100 in the US. Overall, Greenwood provides an ideal location for those looking for an affordable yet vibrant place to call home.
Greenwood has an unemployment rate of 4.2%. The US average is 6.0%.
Greenwood has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Greenwood
- The Sales Tax Rate for Greenwood is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Greenwood 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 Greenwood
- The average income of a Greenwood resident is $105,167 a year. The US average is $28,555 a year.
- The Median household income of a Greenwood resident is $172,500 a year. The US average is $69,021 a year.