Rochester, MN 

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Economy in Rochester, MN

Rochester, MN is a vibrant city with plenty of companies, attractions, and local amenities. Local companies like Mayo Clinic, IBM, and Verizon play important roles in the region's economy. Rochester also offers residents outdoor activities like golfing, fishing, and biking along the Zumbro River. The cost of living in Rochester is very reasonable; the median 2 bedroom rent rate is $1,240 which is significantly lower than the US average of $1,430. Additionally, grocery costs are comparable to the national average at an index score of 100 for both Rochester and the US. With its plentiful job opportunities and wide range of activities to explore, Rochester continues to be a great place to live.

Rochester has an unemployment rate of 3.6%. The US average is 6.0%.

Rochester has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 34.7%, which is higher than the US average of 33.5%.

Tax Rates for Rochester
- The Sales Tax Rate for Rochester is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Rochester 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 Rochester
- The average income of a Rochester resident is $33,625 a year. The US average is $28,555 a year.
- The Median household income of a Rochester resident is $79,159 a year. The US average is $69,021 a year.


  ECONOMYRochester, MinnesotaUnited States
  • Unemployment Rate (US Avg: 6%)
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    Reviews for Rochester    31 Reviews
    Not a city for the self sufficient law abiders - 11/1/2021
    Roch (and Minnesota) is a great place IF you live off the govt dole; subsidize undesirable things (through generous welfare benefits, lax law enforcement and sentences,... Read More

    Start Your Review of Rochester

    Bad for progressive thinkers and diversity - 10/30/2020
    Rochester is very vanilla. As a progressive, this place is not good. The area leans conservative and you'll see Trump signs everywhere... so that tells you the type of... Read More

    Too cold for too long - 1/26/2020
    I moved here over 20 years ago from California and I was in shock for the first couple of years that people actually lived in such a cold climate! Winter starts around... Read More

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