Shelby, MN is a small city located in the heart of Minnesota. The cost of living compared to the US is relatively low with 2 bedroom rent being $920 versus $1,430 in the US and grocery cost index being 95 as opposed to 100 in the US. Shelby, MN is home to local companies such as Wal-Mart Distribution Center, D&N Machining Inc., and Shelby Industries. Despite its small size, Shelby has a lot to offer for its residents including many community events, educational services, and plenty of recreational activities. Overall, Shelby is an excellent place to live or visit due to its low cost of living and abundance of amenities.
Shelby has an unemployment rate of 3.9%. The US average is 6.0%.
Shelby has seen the job market decrease by -3.4% over the last year. Future job growth over the next ten years is predicted to be 37.2%, which is higher than the US average of 33.5%.
Tax Rates for Shelby
- The Sales Tax Rate for Shelby is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Shelby 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 Shelby
- The average income of a Shelby resident is $37,054 a year. The US average is $37,638 a year.
- The Median household income of a Shelby resident is $72,596 a year. The US average is $69,021 a year.