Waterville, Minnesota is a small town located in Le Sueur County. It is a great place to live due to its lower cost of living compared to other areas in the US. The average two-bedroom rent in Waterville is $950, which is significantly cheaper than the US average of $1,430. Additionally, the Grocery Cost Index in Waterville is 97 versus 100 in the US, making it even more affordable to live there.
There are several local companies that have helped shape Waterville into what it is today. These include Breakheart Tool & Machine Company Inc., a metal fabrication company that has been providing quality service to customers since 1982; First Truss Manufacturing Co., a truss manufacturing and retail business; and Schoeneberger Landscaping, providing landscaping services for over 20 years.
Thanks to these local businesses as well as its favorable cost of living, Waterville continues to be an attractive place for people looking for an affordable but pleasant place to call home.
Waterville has an unemployment rate of 6.8%. The US average is 6.0%.
Waterville has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 33.5%.
Tax Rates for Waterville
- The Sales Tax Rate for Waterville is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Waterville 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 Waterville
- The average income of a Waterville resident is $23,060 a year. The US average is $28,555 a year.
- The Median household income of a Waterville resident is $72,829 a year. The US average is $69,021 a year.