Hutchinson, MN is a quaint city located in McLeod County with an estimated population of 14,178 inhabitants. It boasts several local companies including Hutchinson Technology Incorporated, an international leader in developing and manufacturing advanced technology products for customers in the hard disk drive industry. The cost of living in this city is below average when compared to the national index due to its lower rental costs and grocery prices. The average two bedroom rent in this city is $840 per month while the US average is $1,430. Furthermore, the Grocery Cost Index in Hutchinson is 98 as opposed to 100 nationally. Taken together these facts make Hutchinson an attractive place for those looking for affordable living combined with excellent employment opportunities.
Hutchinson has an unemployment rate of 5.1%. The US average is 6.0%.
Hutchinson has seen the job market decrease by -2.5% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Hutchinson
- The Sales Tax Rate for Hutchinson is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Hutchinson 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 Hutchinson
- The average income of a Hutchinson resident is $39,720 a year. The US average is $37,638 a year.
- The Median household income of a Hutchinson resident is $58,795 a year. The US average is $69,021 a year.