Providence, MN is a small town located in Southern Minnesota. It is an affordable area to live given the average two bedroom rent of $820 - much lower than the US average of $1,430. The grocery cost index in Providence is 93 versus 100 in the US making food costs more reasonable compared to places elsewhere. Local companies include Town and Country Store, State Farm Insurance, and Faribault County Abstract Co. These businesses offer a range of goods and services to the local community.
Providence has an unemployment rate of 4.5%. The US average is 6.0%.
Providence has seen the job market decrease by -1.5% over the last year. Future job growth over the next ten years is predicted to be 10.0%, which is lower than the US average of 33.5%.
Tax Rates for Providence
- The Sales Tax Rate for Providence is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Providence 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 Providence
- The average income of a Providence resident is $32,119 a year. The US average is $28,555 a year.
- The Median household income of a Providence resident is $71,250 a year. The US average is $69,021 a year.