Iona Township (Murray Cnty), Minnesota is a small rural community located in Murray County. It is home to many local businesses such as The Iona Store, Valley Bar & Grill, and several other small family farms and stores. Rent for two bedroom homes in Iona Township is much lower than the national average of $1,430 per month, at only $840. Additionally, the Grocery Cost Index in Iona Township is also much lower than that of the US which has an index score of 100. In Iona Township, it has a score of 93 showing that groceries are cheaper than most places in America. This makes living in Iona Township more affordable than most areas around the country.
Iona township has an unemployment rate of 6.4%. The US average is 6.0%.
Iona township has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 20.4%, which is lower than the US average of 33.5%.
Tax Rates for Iona township
- The Sales Tax Rate for Iona township is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Iona 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 Iona township
- The average income of a Iona township resident is $34,443 a year. The US average is $37,638 a year.
- The Median household income of a Iona township resident is $77,000 a year. The US average is $69,021 a year.