Hammond, MN is a small city in Minnesota offering its residents with a cost of living that is lower than the national average. The median 2 bedroom rent in Hammond is $960, compared to the national rate of $1,430. Furthermore, the Grocery Cost Index in Hammond stands at 102 which is higher than the US index of 100. Residents of Hammond have access to businesses such as True Value Hardware Store, West Wind Supper Club, and Northern Street Bakery which offer products and services to meet their everyday needs. Additionally, there are plenty of outdoor activities for folks to enjoy in Hammond including fishing at nearby lakes or visiting the popular Horseshoe Park.
Hammond has an unemployment rate of 4.4%. The US average is 6.0%.
Hammond has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Hammond
- The Sales Tax Rate for Hammond is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Hammond 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 Hammond
- The average income of a Hammond resident is $15,987 a year. The US average is $28,555 a year.
- The Median household income of a Hammond resident is $76,250 a year. The US average is $69,021 a year.