Spruce Valley, MN is a small city located in the Southern part of Minnesota. It is known for its quietness and has a population of 1,735 people. Although rent prices are cheaper than the US average, with two bedroom apartments going for around $810, the Grocery Cost Index is slightly higher than the national average at 94.
The main industries in Spruce Valley are agriculture and manufacturing. The largest employers include Sudden Industries Inc., Sunquest Systems Inc., and Spruce Valley Dairy Farms. Other local businesses include Riverview Financial Services and St. John’s Bar & Grill Restaurant.
Spruce Valley has an unemployment rate of 6.6%. The US average is 6.0%.
Spruce Valley has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 12.9%, which is lower than the US average of 33.5%.
Tax Rates for Spruce Valley
- The Sales Tax Rate for Spruce Valley is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Spruce Valley 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 Spruce Valley
- The average income of a Spruce Valley resident is $39,577 a year. The US average is $37,638 a year.
- The Median household income of a Spruce Valley resident is $51,667 a year. The US average is $69,021 a year.