Pine Island township, MN is a small town located in the southeastern part of Minnesota. It is a rural area and has a population of around 5,000 people. The cost of living in Pine Island township is much lower than the national average – the two bedroom rent is $940 compared to $1,430 nationally. The grocery cost index in Pine Island township is 100, which is also on par with the national average.
Local companies in Pine Island township include Honeyhill Farms, G&H Manufacturing, and Twin Rivers Technologies LLC. These businesses provide employment to many locals and have helped to diversify the local economy. Additionally, there are several small shops and cafes throughout town that serve as gathering spots for locals who want to enjoy some home-cooked food or catch up with their neighbors. All in all, Pine Island township provides an affordable place to live with plenty of cultural amenities.
Pine Island township has an unemployment rate of 4.6%. The US average is 6.0%.
Pine Island township has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 28.0%, which is lower than the US average of 33.5%.
Tax Rates for Pine Island township
- The Sales Tax Rate for Pine Island township is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Pine Island 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 Pine Island township
- The average income of a Pine Island township resident is $31,237 a year. The US average is $28,555 a year.
- The Median household income of a Pine Island township resident is $101,378 a year. The US average is $69,021 a year.