Hayfield, MN is an idyllic community located in the southeast corner of Minnesota. With a population of around 1,700 people, Hayfield provides plenty of opportunities for families and businesses alike to settle down and call it home. The cost of rent for two-bedroom homes in Hayfield is roughly $1,010 per month, which is significantly less than the national rate of $1,430. Additionally, food and grocery costs are also lower in Hayfield than average with a Grocery Cost Index of 98 compared to the US value of 100. Many local businesses thrive here including Hayfield Auto Repair & Towing, Kuehnl Hardware Hank & True Value Store, and Forkhorn Chophouse & Saloon. These companies represent just a few examples of what the thriving economy can look like in Hayfield.
Hayfield has an unemployment rate of 4.9%. The US average is 6.0%.
Hayfield 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 30.4%, which is lower than the US average of 33.5%.
Tax Rates for Hayfield
- The Sales Tax Rate for Hayfield is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hayfield 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 Hayfield
- The average income of a Hayfield resident is $25,624 a year. The US average is $28,555 a year.
- The Median household income of a Hayfield resident is $62,222 a year. The US average is $69,021 a year.