New Richland, MN is an attractive place to live due to its affordable rent. The average two bedroom apartment in New Richland costs around $800 dollars, which is substantially lower than the national average of $1,430. In addition to this, New Richland also has a low grocery cost index compared to the rest of the country. With a score of 96 out of 100, locals can save money on groceries when compared to other parts of the United States.
New Richland is home to several companies that serve both local residents and visitors alike. The city is home to local shops like Shaver’s Grocery Store and Tractor Supply Co., as well as larger corporations such as Walmart and Cub Foods. Additionally, there are plenty of restaurants in town like the Town Tap Restaurant and Grill or El Tequila Bar & Grill that offer family-friendly environments for people to enjoy a meal together.
In comparison with other parts of the United States, New Richland offers significantly lower rent prices and grocery costs which makes it an ideal place for families looking for an affordable place to live that doesn’t sacrifice quality living. With its vibrant business scene and cozy atmosphere, New Richland is becoming increasingly popular among those who want a great balance between affordability and quality living.
New Richland has an unemployment rate of 6.0%. The US average is 6.0%.
New Richland has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for New Richland
- The Sales Tax Rate for New Richland is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New Richland 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 Richland
- The average income of a New Richland resident is $23,432 a year. The US average is $37,638 a year.
- The Median household income of a New Richland resident is $44,861 a year. The US average is $69,021 a year.