South Branch, MN is a small city located in the Midwest region of the United States. The city is known for its beautiful outdoor scenery and laid-back atmosphere. It is also an affordable place to live, as 2 bedroom rent in South Branch is more than $500 less than the US average of $1,430. Additionally, food costs are lower here with a grocery cost index of 95 versus 100 in the US on average.
The city has many local companies such as South Branch Hardware & Supply Co., Midwest Towing and Salvage Co., and Marlowe's Construction Company. These companies provide quality services to the community while creating jobs for local people. The low cost of living makes it attractive to new residents looking to settle down and start their lives in South Branch, MN.
South Branch has an unemployment rate of 4.5%. The US average is 6.0%.
South Branch has seen the job market decrease by -1.3% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for South Branch
- The Sales Tax Rate for South Branch is 6.9%. The US average is 7.3%.
- The Income Tax Rate for South Branch 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 South Branch
- The average income of a South Branch resident is $30,694 a year. The US average is $28,555 a year.
- The Median household income of a South Branch resident is $91,250 a year. The US average is $69,021 a year.