Ruthton, MN is a small town located in rural Minnesota. It has a population of around 1,000 people and is known for its low cost of living compared to other parts of the US. The average two-bedroom rent in Ruthton is only $750 while the average two-bedroom rent in the US is $1,430. The Grocery Cost Index also shows that the cost of groceries in Ruthton is considerably lower at 93 versus 100 in the US.
The local economy is mainly supported by family-owned businesses such as Lakeview Dairy Farms and Koob Trucking Inc., which provide employment opportunities for many residents. There are also some local shops such as Kwik Stop convenience store and Westside Supermarket where locals can purchase everyday necessities at affordable prices. All these factors contribute to making Ruthton an ideal place for those who are looking for a more affordable lifestyle.
Ruthton has an unemployment rate of 5.1%. The US average is 6.0%.
Ruthton has seen the job market increase by 3.0% over the last year. Future job growth over the next ten years is predicted to be 28.7%, which is lower than the US average of 33.5%.
Tax Rates for Ruthton
- The Sales Tax Rate for Ruthton is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Ruthton 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 Ruthton
- The average income of a Ruthton resident is $19,862 a year. The US average is $28,555 a year.
- The Median household income of a Ruthton resident is $45,000 a year. The US average is $69,021 a year.