New Prairie, MN is a small but growing community with plenty of opportunities for individuals looking for a place to call home. The cost of living in New Prairie is lower than the US average, as 2 bedroom rent is only $940 compared to the national average of $1,430. Furthermore, grocery costs are about 6% lower than the rest of the country with an index value of 94 versus 100 elsewhere. This makes New Prairie an affordable option for many families and individuals alike. Some local companies in New Prairie include Kildahl Construction Corporation, All About Apples Farm Market & Pies, and Northern Valley Foods Inc. Residents can enjoy the benefits offered by these businesses while taking advantage of their low cost of living.
New Prairie has an unemployment rate of 4.5%. The US average is 6.0%.
New Prairie has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 29.1%, which is lower than the US average of 33.5%.
Tax Rates for New Prairie
- The Sales Tax Rate for New Prairie is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New Prairie 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 Prairie
- The average income of a New Prairie resident is $38,505 a year. The US average is $37,638 a year.
- The Median household income of a New Prairie resident is $88,333 a year. The US average is $69,021 a year.