\nSylvan, MN is a small town located in Minnesota. It is known for its friendly community and affordability. The rent for a 2 bedroom apartment in Sylvan is $890 which is significantly less expensive than the national average of $1,430. Grocery Cost Index in Sylvan is 97 versus 100 in the US., so it also offers much lower prices on food than the rest of the country. Local businesses such as Larsen's Grocery, Smith's Custom Meats and Baer’s Home Furnishings are popular among locals as they offer quality products at reasonable prices. In comparison to larger companies operating on a national level Sylvan’s businesses have much better rates that make it more affordable for residents to shop locally rather than ordering from elsewhere.
Sylvan has an unemployment rate of 8.4%. The US average is 6.0%.
Sylvan has seen the job market decrease by -5.2% over the last year. Future job growth over the next ten years is predicted to be 51.3%, which is higher than the US average of 33.5%.
Tax Rates for Sylvan
- The Sales Tax Rate for Sylvan is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Sylvan 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 Sylvan
- The average income of a Sylvan resident is $31,951 a year. The US average is $37,638 a year.
- The Median household income of a Sylvan resident is $76,307 a year. The US average is $69,021 a year.