Richland, MN is a great place to live due to its affordability. A two bedroom rental in Richland costs $920 per month, much lower than the US average of $1,430. Additionally, groceries are much more affordable compared to the rest of the country; the grocery cost index in Richland is 97 versus 100 in the US. The city offers many local businesses and attractions for residents to enjoy. Notable companies include K&K Manufacturing and Crown Trophy, while popular attractions include Richland Park and the Richland Country Club. There is something for everyone in this charming, small town.
Richland has an unemployment rate of 4.2%. The US average is 6.0%.
Richland has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 37.9%, which is higher than the US average of 33.5%.
Tax Rates for Richland
- The Sales Tax Rate for Richland is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Richland 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 Richland
- The average income of a Richland resident is $26,258 a year. The US average is $28,555 a year.
- The Median household income of a Richland resident is $82,083 a year. The US average is $69,021 a year.