Madison township, MN is a great place to live. The cost of living here is very reasonable with 2 bedroom rent averaging $750, much lower than the US average of $1,430. The grocery cost index in Madison township is 93 versus 100 in the US, meaning groceries here are also a great deal. There are plenty of local companies that make Madison township a great place to live and work. Popular employers in the area include Target Corporation, Best Buy, University of Minnesota, State Farm Insurance and Wells Fargo.
Madison township has an unemployment rate of 4.5%. The US average is 6.0%.
Madison township has seen the job market decrease by -1.3% over the last year. Future job growth over the next ten years is predicted to be 10.0%, which is lower than the US average of 33.5%.
Tax Rates for Madison township
- The Sales Tax Rate for Madison township is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Madison 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 Madison township
- The average income of a Madison township resident is $39,799 a year. The US average is $37,638 a year.
- The Median household income of a Madison township resident is $93,125 a year. The US average is $69,021 a year.