New Germany, MN is a small town located in Carver County with a population of about 1,500 people. It is known for its strong community spirit and many local businesses, including restaurant chains such as Granny's Kitchen and Collins Coffee Shop, a hardware store called Harwood Hardware, and landscaping companies like Greener Gardens and Nature's Touch. The job market in New Germany is thriving, with plenty of opportunities to find employment in one of these businesses or nearby subsidized housing projects. Furthermore, the cost of living in New Germany is lower than that of the US as a whole; for example, 2 bedroom rent averages $1,200 compared to $1,430 nationally while groceries are indexed at 100 versus 100 in the US. Overall, New Germany provides an affordable and fulfilling lifestyle for its citizens.
New Germany has an unemployment rate of 3.7%. The US average is 6.0%.
New Germany has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for New Germany
- The Sales Tax Rate for New Germany is 7.4%. The US average is 7.3%.
- The Income Tax Rate for New Germany 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 Germany
- The average income of a New Germany resident is $21,000 a year. The US average is $28,555 a year.
- The Median household income of a New Germany resident is $65,000 a year. The US average is $69,021 a year.