Solway, MN is a small town situated in the region of Minnesota. It is home to a variety of businesses and industries including Solway Plastics, Solway Refining, and Wilcox & Sons Lumber. The town has a population of just over 1000 people and offers good value for money when it comes to rent. Rent for a two-bedroom home in Solway is around $1,050 compared to the US average of $1,430. Grocery costs are relatively low compared to other places in the country; with an index score of 96 versus the US average of 100. With its convenient location close to larger cities such as St Paul and Minneapolis, there’s plenty going on in this small town.
Solway has an unemployment rate of 5.1%. The US average is 6.0%.
Solway has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 29.5%, which is lower than the US average of 33.5%.
Tax Rates for Solway
- The Sales Tax Rate for Solway is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Solway 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 Solway
- The average income of a Solway resident is $14,057 a year. The US average is $28,555 a year.
- The Median household income of a Solway resident is $112,857 a year. The US average is $69,021 a year.