Hammer, MN is a small town located outside of the Twin Cities in Minnesota. It's known for being a great place to raise a family due to its affordable cost of living. The two bedroom rent in Hammer is $850 compared to the US average of $1430, and the grocery cost index is 95 versus 100 in the US. There are many local companies that make up the population such as Hammer Machine & Engineering Co., 1st Street Pharmacy Co., and Hammer Services Inc. People who move to Hammer can expect to save money due to its low cost of living.
Hammer has an unemployment rate of 4.4%. The US average is 6.0%.
Hammer has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 14.9%, which is lower than the US average of 33.5%.
Tax Rates for Hammer
- The Sales Tax Rate for Hammer is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hammer 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 Hammer
- The average income of a Hammer resident is $30,672 a year. The US average is $37,638 a year.
- The Median household income of a Hammer resident is $77,500 a year. The US average is $69,021 a year.