Spring Valley township, MN is a small town located in northern Minnesota. It is known for its scenic views of rolling hills and lush forests. The town has a population of around 4,000 people and is home to several local businesses such as the Spring Valley Grocery Store, the Spring Valley Cafe, and Joe's Hardware Store. The cost of living in Spring Valley township is relatively low compared to other parts of Minnesota – for example, the average rent for a two bedroom apartment here is $980 compared to $1,430 nationally. Similarly, the grocery cost index in Spring Valley township is 96 versus 100 in the US which suggests that groceries are more affordable here than elsewhere in the country. This makes it an ideal place for those who are looking for a quiet and affordable place to live.
Spring Valley township has an unemployment rate of 4.7%. The US average is 6.0%.
Spring Valley township has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Spring Valley township
- The Sales Tax Rate for Spring Valley township is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Spring Valley township 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 Spring Valley township
- The average income of a Spring Valley township resident is $40,417 a year. The US average is $28,555 a year.
- The Median household income of a Spring Valley township resident is $105,114 a year. The US average is $69,021 a year.