New Independence, MN is a great place to live with plenty of amenities. The 2 bedroom rent is very affordable compared to the US rent, making it an attractive option for renters looking for an economical housing solution. In terms of local companies, some key employers include Blaine Window Corporation, Polychem Corporation, and MTI Ready Mix Concrete. Grocery Cost Index measures how much it costs to purchase a market basket of goods in a given area relative to the national average. Therefore, New Independence has an index of 100 - meaning that items cost exactly the same as they do on average in the US.
New Independence has an unemployment rate of 4.8%. The US average is 6.0%.
New Independence has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for New Independence
- The Sales Tax Rate for New Independence is 8.4%. The US average is 7.3%.
- The Income Tax Rate for New Independence 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 Independence
- The average income of a New Independence resident is $28,460 a year. The US average is $28,555 a year.
- The Median household income of a New Independence resident is $84,808 a year. The US average is $69,021 a year.