Hibbing, MN is a small town with a population of 16,361 people. It has a large mining industry, and many local businesses have grown up around the industry. Some of these companies include Hibbing taconite Company, Range Reclamation Inc., Lappe’s Bee Supply, Northern Steel Industries Inc., and Ferguson Trucking. Rent for two bedrooms in Hibbing is about $830 which is significantly lower than the US average of $1430. In addition the Grocery Cost Index in Hibbing is 92 compared to 100 for the US on average.
Hibbing has an unemployment rate of 4.8%. The US average is 6.0%.
Hibbing has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Hibbing
- The Sales Tax Rate for Hibbing is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Hibbing 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 Hibbing
- The average income of a Hibbing resident is $30,205 a year. The US average is $37,638 a year.
- The Median household income of a Hibbing resident is $49,710 a year. The US average is $69,021 a year.