New Folden, Minnesota is an ideal small town for those looking for a quiet place to live. The cost of living in this area is extremely affordable with a 2-bedroom rental costing $820, which is substantially less than the US average of $1,430. In addition, the grocery cost index in New Folden is 96 compared to 100 in the US. This makes it a great place for people on a budget who want to enjoy all that New Folden has to offer. Local businesses include Beehive Bakery and Cafe, New Folden Family Clinic, Garett’s Auto Repair Shop, and Pine Tree Realty & Property Management. There are also numerous schools and parks nearby as well as many local events throughout the year. With its low costs and friendly atmosphere, New Folden is a great place to call home.
New Folden has an unemployment rate of 6.6%. The US average is 6.0%.
New Folden has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 12.9%, which is lower than the US average of 33.5%.
Tax Rates for New Folden
- The Sales Tax Rate for New Folden is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New Folden 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 New Folden
- The average income of a New Folden resident is $25,696 a year. The US average is $28,555 a year.
- The Median household income of a New Folden resident is $57,361 a year. The US average is $69,021 a year.