Nicollet, MN is a small city located in the southern part of the state. It offers a peaceful retreat from the hustle and bustle of urban areas. The cost of living is relatively low with 2 bedroom rents costing $890 compared to $1,430 nationally. Additionally, the Grocery Cost Index in Nicollet is 99 compared to 100 in the US.
The area has a few local companies that contribute to its economy, such as Nicollet Metal Fabrication and Automotive Services Inc., St Peter Canning Company, Wild Rice Farm & Garden Center, Nicollet Feed Supply LLC, and Dynamic Diesel & Auto Repair LLC. These businesses are important parts of the community that provide employment and goods for residents.
Nicollet has an unemployment rate of 3.6%. The US average is 6.0%.
Nicollet has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Nicollet
- The Sales Tax Rate for Nicollet is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Nicollet 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 Nicollet
- The average income of a Nicollet resident is $27,749 a year. The US average is $28,555 a year.
- The Median household income of a Nicollet resident is $72,031 a year. The US average is $69,021 a year.