Milton, MN is a small town with a population of 1,976 people. It is located in the southeast corner of Minnesota and provides a peaceful environment for its inhabitants. The cost of living in Milton is significantly lower than in most other parts of the United States. For example, rent for a two-bedroom apartment in Milton averages $1,140 compared to $1,430 in the United States. Additionally, the Grocery Cost Index in Milton is 99 versus 100 in the US. There are various local companies that operate in Milton such as Country Side Store & Gas Station, Ed's Auto Repair and Tractor Supply Company providing goods and services to locals at more affordable prices when compared to larger cities. All these factors make Milton an attractive place to live with lower costs without sacrificing quality of life.
Milton has an unemployment rate of 4.9%. The US average is 6.0%.
Milton has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 30.4%, which is lower than the US average of 33.5%.
Tax Rates for Milton
- The Sales Tax Rate for Milton is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Milton 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 Milton
- The average income of a Milton resident is $31,699 a year. The US average is $28,555 a year.
- The Median household income of a Milton resident is $97,813 a year. The US average is $69,021 a year.