Hendrum Township in Minnesota is a small community located in Norman County. It is home to many local businesses such as the Thon Store, Valley Machine & Welding, and Hendrum Lumber. The cost of living in Hendrum Township is quite low compared to other parts of the country. For example, the average rent for a two bedroom apartment is $880 per month compared to $1,430 nationally. Additionally, grocery costs have an index score of 93 versus 100 in the US. Therefore, living in Hendrum Township can be an affordable option for those looking to lay down roots or visit for a short period of time.
Hendrum township has an unemployment rate of 5.7%. The US average is 6.0%.
Hendrum township has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Hendrum township
- The Sales Tax Rate for Hendrum township is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hendrum township 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 Hendrum township
- The average income of a Hendrum township resident is $33,277 a year. The US average is $28,555 a year.
- The Median household income of a Hendrum township resident is $52,500 a year. The US average is $69,021 a year.