Knute, MN is a small rural town located in the northern part of the state. The median 2 bedroom rent in Knute is significantly lower than the US average, at $820 compared to $1,430 nationally. The Grocery Cost index in Knute is also lower than the US average with 98 versus 100 nationally. The cost of living overall is quite affordable due to its low housing and food costs. There are several local companies that operate in Knute including Kmart, Target Corporation and Ace Hardware. Research suggests that Knute has a relatively low cost of living.
Knute has an unemployment rate of 4.9%. The US average is 6.0%.
Knute has seen the job market increase by 0.6% over the last year. Future job growth over the next ten years is predicted to be 24.2%, which is lower than the US average of 33.5%.
Tax Rates for Knute
- The Sales Tax Rate for Knute is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Knute 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 Knute
- The average income of a Knute resident is $35,421 a year. The US average is $28,555 a year.
- The Median household income of a Knute resident is $66,750 a year. The US average is $69,021 a year.