Nicollet township, MN is a rural town located in the southern part of Minnesota. It has a population of 8,000 people and is known for its low cost of living and high quality of life. The average two bedroom rent in Nicollet township is $920, which is significantly lower than the US average rent of $1,430. Furthermore, the Grocery Cost Index in Nicollet township is 99 compared to 100 for the United States as a whole.
The town has several businesses that serve its local economy such as Bob's Automotive Repair shop, Nicollet Family Diner, SB Grocery Store and L&M Liquor Store. Additionally, many residents find employment near by in larger towns like Mankato or Rochester. All in all, Nicollet Township offers an affordable and convenient place to live with multiple employment opportunities.
Nicollet township has an unemployment rate of 3.6%. The US average is 6.0%.
Nicollet township has seen the job market decrease by -3.2% 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 township
- The Sales Tax Rate for Nicollet township is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Nicollet township 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 township
- The average income of a Nicollet township resident is $35,349 a year. The US average is $37,638 a year.
- The Median household income of a Nicollet township resident is $87,841 a year. The US average is $69,021 a year.