Jackson, MN is a small city located in the southwestern part of the state. It has a diverse economy with several major employers including Mayo Clinic, Walmart, 3M, and Cargill. The cost of living in Jackson is much lower than the US average with the average 2 bedroom rent being $840 compared to $1,430 nationally. Additionally, grocery costs are significantly lower in Jackson with an index of 96 versus 100 nationally. This makes it an ideal location for those seeking to save money without sacrificing quality of life.
Jackson has an unemployment rate of 4.3%. The US average is 6.0%.
Jackson has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 6.7%, which is lower than the US average of 33.5%.
Tax Rates for Jackson
- The Sales Tax Rate for Jackson is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Jackson 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 Jackson
- The average income of a Jackson resident is $36,501 a year. The US average is $37,638 a year.
- The Median household income of a Jackson resident is $60,598 a year. The US average is $69,021 a year.