Hendricks, MN is a small town located in Minnesota with a close-knit community. It is known for its low cost of living, with the average 2 bedroom rent at $790 which is significantly less than the US average of $1,430. Grocery costs are also relatively low, with an index of 93 compared to 100 nationally. The small town has many local businesses that contribute to the economy and provide its residents with resources needed for daily life. Some of these businesses include Hendricks Supermarket, Hendricks Hardware Store, and Hendricks Automotive Repair Shop. These businesses provide quality services to the locals and help give Hendricks its unique charm.
Hendricks has an unemployment rate of 5.7%. The US average is 6.0%.
Hendricks 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 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Hendricks
- The Sales Tax Rate for Hendricks is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hendricks 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 Hendricks
- The average income of a Hendricks resident is $25,011 a year. The US average is $28,555 a year.
- The Median household income of a Hendricks resident is $42,986 a year. The US average is $69,021 a year.