Schoolcraft, MN is a small town located in the United States. It has a population of about 2,000 people. It is known for its low cost of living with two bedroom rentals starting at just $880. This is significantly lower than the US average of $1,430 for two bedroom rentals. Shopping for groceries also costs less in Schoolcraft, MN, with a grocery cost index of 99 versus 100 in the US. In addition to the lower costs of basic amenities, there are also a number of local businesses that make up Schoolcraft’s economy such as The Rusty Bucket Bar and Grill, 9th Street Grocery Store, and Smith's Auto Repair. All three businesses provide quality products and services at an affordable price which helps keep the cost of living down for locals and visitors alike.
Schoolcraft has an unemployment rate of 6.1%. The US average is 6.0%.
Schoolcraft has seen the job market decrease by -2.5% over the last year. Future job growth over the next ten years is predicted to be 45.6%, which is higher than the US average of 33.5%.
Tax Rates for Schoolcraft
- The Sales Tax Rate for Schoolcraft is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Schoolcraft 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 Schoolcraft
- The average income of a Schoolcraft resident is $30,342 a year. The US average is $37,638 a year.
- The Median household income of a Schoolcraft resident is $71,250 a year. The US average is $69,021 a year.