Svea, MN is a small town located in the rural countryside. This area is known for its affordable rent prices which are approximately $760 for two bedroom homes compared to the national average of $1,430. Additionally, grocery prices in Svea are relatively low with an index of 92 compared to the national average of 100.
Businesses in Svea include Hake's Grocery Store, which provides fresh produce and other essentials at reasonable prices. Fosse's General Store offers retail items while Kjellman Lumber offers lumber and building supplies. Other local establishments include a car dealership, cafe, gas station and mechanic shop.
Recreational activities abound in Svea as there are several parks nearby including River Bend Park which has a playground and hiking trails. Rocky Ridge State Park is also close by offering fishing spots, picnic areas and scenic views from the ridge top.
In terms of education, Svea has several public schooling options available from kindergarten through high school including Svea Elementary School, Middle School and High School as well as a few private educational institutions such as Pine Forest Academy.
Svea has an unemployment rate of 4.0%. The US average is 6.0%.
Svea has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 18.6%, which is lower than the US average of 33.5%.
Tax Rates for Svea
- The Sales Tax Rate for Svea is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Svea 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 Svea
- The average income of a Svea resident is $100,292 a year. The US average is $37,638 a year.
- The Median household income of a Svea resident is $0 a year. The US average is $69,021 a year.