New Solum, MN is a wonderful community located in the southeastern part of the state. It is a great area for families and people looking to settle down. The cost of living is relatively low, with 2-bedroom rental rates about $850 compared to the US average rate of $1430. Additionally, grocery costs are low as well, with an index of 96 versus 100 in the US. Companies based in New Solum, MN range from small local businesses like Flemings Grocery Store or Kaufman Plumbing to larger organizations such as the Rialto Theater or New Solum Power and Light.
New Solum has an unemployment rate of 6.6%. The US average is 6.0%.
New Solum 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 Solum
- The Sales Tax Rate for New Solum is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New Solum 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 Solum
- The average income of a New Solum resident is $23,065 a year. The US average is $28,555 a year.
- The Median household income of a New Solum resident is $69,219 a year. The US average is $69,021 a year.