Malmo, MN is a small city located in the United States with a population of approximately 5,000 people. It has become increasingly popular for its affordable living costs, with average 2 bedroom rent being around $810 per month, compared to the national average of $1,430. This low cost of living is further exemplified by the Grocery Cost Index being 98 compared to 100 in the US. As well as affordable housing and groceries, Malmo also offers plenty of amenities such as local restaurants like The District Kitchen + Bar and The Old Depot Cafe; shopping centers like Malmo Mall and Valley View Mall; outdoor recreation spots like Folwell Lake and Eastwood Park; and cultural attractions like Pierson Opera House. These features make Malmo an ideal place to live for those looking for a more budget-friendly lifestyle.
Malmo has an unemployment rate of 7.1%. The US average is 6.0%.
Malmo has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 37.5%, which is higher than the US average of 33.5%.
Tax Rates for Malmo
- The Sales Tax Rate for Malmo is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Malmo 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 Malmo
- The average income of a Malmo resident is $29,853 a year. The US average is $37,638 a year.
- The Median household income of a Malmo resident is $47,500 a year. The US average is $69,021 a year.