Torrey, MN is a small town located just outside Minneapolis. It is known for its affordable housing costs and easy access to larger cities. The average 2 bedroom rent in Torrey is $970 compared to the US at $1,430. Additionally, the Grocery Cost Index in Torrey is 96 versus 100 in the US. That makes it an attractive place to live for those looking for affordable living expenses.
Torrey has several local companies that provide employment opportunities such as MTS Systems Corporation, Ecolab Inc., and Boston Scientific Corporation. These businesses offer competitive wages and benefits to their employees, making them attractive places of employment for people from all backgrounds.
Overall, Torrey offers residents a unique combination of affordability and convenience with great job opportunities. With its close proximity to the city of Minneapolis, it’s easy to see why this small town is becoming increasingly popular among families wishing to escape the hustle and bustle of modern life.
Torrey has an unemployment rate of 8.4%. The US average is 6.0%.
Torrey 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 Torrey
- The Sales Tax Rate for Torrey is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Torrey 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 Torrey
- The average income of a Torrey resident is $23,928 a year. The US average is $37,638 a year.
- The Median household income of a Torrey resident is $48,750 a year. The US average is $69,021 a year.