Northrop, MN is a small town with an affordable cost of living. The average 2 bedroom rent in Northrop is $770 compared to $1,430 nationally, making it an attractive option for renters. Other costs of living are also low, such as the grocery cost index which is 93 versus 100 in the US. Local companies around Northrop include a variety of businesses ranging from retail stores like Walmart and Kohl’s to restaurants like Culver's and Taco Bell. Northrop has something for everyone looking for a cost-effective place to live.
Northrop has an unemployment rate of 4.3%. The US average is 6.0%.
Northrop has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Northrop
- The Sales Tax Rate for Northrop is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Northrop 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 Northrop
- The average income of a Northrop resident is $17,978 a year. The US average is $28,555 a year.
- The Median household income of a Northrop resident is $50,500 a year. The US average is $69,021 a year.