Red Wing, MN Economy


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Red Wing, MN is a beautiful city located along the Mississippi River, and is home to many small businesses. The area is known for its rich history and diverse culture. With a population of 16,000 people, Red Wing offers plenty of affordable housing options. The average two bedroom rent in the city is $940 which is much lower than the national average of $1,430. Additionally, the grocery cost index in Red Wing is 98 versus 100 in the US making it an affordable place to live. There are plenty of local businesses to shop at such as Stelter’s Department Store which has been around since 1881 or Anderson Furniture where you can find quality furniture at an affordable price. Red Wing also has many restaurants like Tooties Cafe or Zorbaz Pizza where you can enjoy delicious meals without breaking your budget. With all these things combined, Red Wing makes for an excellent place to live that won't break your bank account.

Red Wing has an unemployment rate of 4.6%. The US average is 6.0%.

Red Wing 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 Red Wing
- The Sales Tax Rate for Red Wing is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Red Wing 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 Red Wing
- The average income of a Red Wing resident is $34,117 a year. The US average is $37,638 a year.
- The Median household income of a Red Wing resident is $61,040 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyRed Wing, MinnesotaUnited States
  4.66
  -4.1%-6.2%
  28.0%33.5%
  7.4%6.2%
  7.1%4.6%
  $34,117$37,638
  $61,040$69,021
  $78,313$85,028
  Population by Occupation
  1.7%1.2%
  0.0%0.5%
  6.1%6.8%
  17.2%10.0%
  1.7%2.5%
  9.6%11.0%
  4.4%4.8%
  3.9%0.8%
  0.8%1.9%
  3.0%4.7%
  0.8%1.9%
  4.1%7.6%
  0.0%0.1%
  2.3%4.2%
  8.2%9.3%
  15.3%14.0%
  5.4%2.1%
  8.2%7.0%
  3.5%4.8%
  4.0%4.7%
Reviews for Red Wing
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Red Wing is a small town located equidistant between the Twin Cities and Rochester and is situated on the Mississippi river. Much of the big city culture of Minneapolis  More

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Over 11 years ago

Red Wing is a pretty town along the river. It does have some things outsiders need to be aware of if you take the plunge. The town is OLD, as in the citizens. If  More

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Over 16 years ago

It's a very nice town on the Missippi but too cold in winter---hot & humid in summer but a great spring & fall. If you like the changing seasons, it's ideal.  More

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