Hector, MN is a small town located in Renville County. It is known for its affordable cost of living with 2 bedroom rent costing just $830 compared to the US average of $1,430. The grocery cost index is also lower at 95 than the US average of 100. There are several businesses and services located within Hector including Hector Plumbing, a local plumbing business, and Hector Floral Market, a flower shop that offers delivery. Additionally, there is a public library offering books and other resources as well as an outdoor recreation center providing sporting activities for the community.
Hector has an unemployment rate of 5.9%. The US average is 6.0%.
Hector has seen the job market decrease by -1.4% over the last year. Future job growth over the next ten years is predicted to be 46.0%, which is higher than the US average of 33.5%.
Tax Rates for Hector
- The Sales Tax Rate for Hector is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hector 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 Hector
- The average income of a Hector resident is $31,188 a year. The US average is $37,638 a year.
- The Median household income of a Hector resident is $53,953 a year. The US average is $69,021 a year.