Silverton, MN is a small town located in the heart of Minnesota. It is known for its beautiful woodlands and winding rivers. The cost of living in Silverton is lower than the national average, with 2 bedroom rent at $950 compared to $1,430 in the US. Additionally, the city has a grocery cost index of 96 versus 100 in the US. There are several local companies that call Silverton home such as Miller Manufacturing Inc., Lakeshore Financial Group, and Northland Construction. These companies provide jobs and services to locals.
Silverton has an unemployment rate of 5.7%. The US average is 6.0%.
Silverton has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Silverton
- The Sales Tax Rate for Silverton is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Silverton 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 Silverton
- The average income of a Silverton resident is $31,038 a year. The US average is $28,555 a year.
- The Median household income of a Silverton resident is $84,583 a year. The US average is $69,021 a year.