Watopa, MN is a small town located in southwestern Minnesota. It has a population of just under 1,700 people and is home to a number of local businesses including Panhandle Restaurant, Fiesta Stationary & Gifts, Watopa Floral Shop, and K&K Hardware. The town relies heavily on the agricultural industry for its economic growth, with livestock farming being one of the major sources of employment in the area. In addition to farming, there are also some manufacturing and service sector jobs available in the region. Rent prices in Watopa are much lower than the average cost across the United States at $930 per month for two bedrooms versus $1,430 nationally. Grocery costs index is also cheaper in Watopa than elsewhere at 99 versus 100 nationally.
Watopa has an unemployment rate of 4.4%. The US average is 6.0%.
Watopa has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Watopa
- The Sales Tax Rate for Watopa is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Watopa 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 Watopa
- The average income of a Watopa resident is $30,832 a year. The US average is $28,555 a year.
- The Median household income of a Watopa resident is $69,444 a year. The US average is $69,021 a year.