Sheldon, MN is a small town with a population of under 2,000 people located on the Minnesota-Iowa border. The cost of living in Sheldon is quite low, with a 2 bedroom rent of only $860 compared to the US average of $1,430. Additionally, grocery costs are 96 versus the national average of 100, making it a very affordable place to live. Local businesses in Sheldon support its economy and include agricultural suppliers such as Trimble Potato Equipment and Iowa Valley Ag Supply; manufacturers such as KAAPA Ethanol and Ag Packer Products; as well as retailers like H&K Feeds & More. All these companies provide jobs and financial security for members of the community.
Sheldon has an unemployment rate of 4.4%. The US average is 6.0%.
Sheldon has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 32.6%, which is lower than the US average of 33.5%.
Tax Rates for Sheldon
- The Sales Tax Rate for Sheldon is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Sheldon 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 Sheldon
- The average income of a Sheldon resident is $35,307 a year. The US average is $37,638 a year.
- The Median household income of a Sheldon resident is $80,000 a year. The US average is $69,021 a year.