Grimstad, MN is a small city located in the Upper Midwest of the United States. The city offers its residents an affordable cost of living, as evidenced by its 2 bedroom rent price of $880 compared to the US average of $1,430. Additionally, local grocery costs are below that of the US average as well with an index number of 96 versus 100 in the US. Local businesses in Grimstad include Bimbo's Pizza Place, S.H Automotive Repair Services and Zabka's Home Improvements. With an index number lower than that of the US average it is clear that Grimstad provides its residents and visitors with a great value on essential items such as groceries when compared to other parts of the country.
Grimstad has an unemployment rate of 3.9%. The US average is 6.0%.
Grimstad has seen the job market decrease by -0.9% over the last year. Future job growth over the next ten years is predicted to be 8.8%, which is lower than the US average of 33.5%.
Tax Rates for Grimstad
- The Sales Tax Rate for Grimstad is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Grimstad 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 Grimstad
- The average income of a Grimstad resident is $38,738 a year. The US average is $37,638 a year.
- The Median household income of a Grimstad resident is $74,688 a year. The US average is $69,021 a year.