Toqua, MN is a great place to live for its affordability. Located in northern Minnesota, the town offers 2 bedroom rentals for just $810 compared to the US average of $1,430. The grocery cost index in Toqua is also lower than the national average, at 93. This makes it an attractive destination for anyone looking for a more budget-friendly lifestyle.
Local businesses consist of many small stores such as the Country Store and Toqua Grocery & Deli. There are also larger companies like Smith Construction, Inc., which specializes in construction and landscaping services. With the nearby lakes and forests, residents can take advantage of outdoor activities like fishing, hiking, skiing and more. In addition to the local amenities that make life more enjoyable and affordable, Toqua is conveniently located an hour away from larger cities like Duluth or Minneapolis where residents can find additional entertainment options. All in all, Toqua makes a great option for those looking for a small town atmosphere without sacrificing access to some of the big city perks.
Toqua has an unemployment rate of 5.9%. The US average is 6.0%.
Toqua has seen the job market increase by 4.2% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Toqua
- The Sales Tax Rate for Toqua is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Toqua 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 Toqua
- The average income of a Toqua resident is $22,626 a year. The US average is $28,555 a year.
- The Median household income of a Toqua resident is $97,500 a year. The US average is $69,021 a year.