Ransom, MN is a small town with a population of approximately 900 people. This quiet community is located in northeastern Minnesota and provides an idyllic setting for those looking to escape the hustle and bustle of city life. The cost of living in Ransom is very affordable compared to other cities; the average two bedroom rent is $910 while it’s $1,430 nationally and the local grocery cost index is 95 compared to 100 nationally. Local businesses include Ransom Grocery Store, Ransom Auto Repair and Hunt Blatchley Hardware & Lumber Co. With its low-cost housing options and wide variety of businesses, Ransom is an ideal place for those looking for an affordable yet comfortable lifestyle.
Ransom has an unemployment rate of 3.7%. The US average is 6.0%.
Ransom has seen the job market decrease by 0.0% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Ransom
- The Sales Tax Rate for Ransom is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Ransom 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 Ransom
- The average income of a Ransom resident is $28,521 a year. The US average is $28,555 a year.
- The Median household income of a Ransom resident is $75,250 a year. The US average is $69,021 a year.