Mudgett, MN is a small town located in the Midwestern United States. It is known for its lower than average rental prices compared to the rest of the country. The average two bedroom rent in Mudgett is $1,060, whereas the US average for two bedroom rent is much higher at $1,430. Along with lower rental prices, Mudgett also has lower grocery costs than other parts of the US; with an index of 96 versus 100 nationally. As a result of these cost differences, many companies have moved into the area to take advantage of cheaper real estate and labor costs. These companies include Daybreak Technologies, Mudgett Manufacturing Co., and GIO Labs. All three companies provide unique services to both local Mudgett residents as well as customers across the nation. The cost differences between living in Mudgett and elsewhere make it an attractive option for businesses to locate their operations in order to cut costs without sacrificing quality of service or products.
Mudgett has an unemployment rate of 7.9%. The US average is 6.0%.
Mudgett has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 31.9%, which is lower than the US average of 33.5%.
Tax Rates for Mudgett
- The Sales Tax Rate for Mudgett is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Mudgett 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 Mudgett
- The average income of a Mudgett resident is $29,468 a year. The US average is $37,638 a year.
- The Median household income of a Mudgett resident is $68,125 a year. The US average is $69,021 a year.