Wild Rice, MN is a small town located in Minnesota that offers a low cost of living compared to the US average. The average two bedroom rent price in Wild Rice is $1,070 versus $1,430 in the US and grocery costs are even more affordable with an index of 93 in Wild Rice versus 100 elsewhere. This affordability can be attributed to lower demand for housing due to its small population and local businesses which keep prices low. Popular local companies include Small Town Bakery & Café, River Valley Bank, Ace Hardware, and Main Street Pharmacy. These companies offer services at competitive prices making living in Wild Rice more cost efficient than many other locations.
Wild Rice has an unemployment rate of 5.7%. The US average is 6.0%.
Wild Rice has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Wild Rice
- The Sales Tax Rate for Wild Rice is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Wild Rice 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 Wild Rice
- The average income of a Wild Rice resident is $26,175 a year. The US average is $28,555 a year.
- The Median household income of a Wild Rice resident is $56,875 a year. The US average is $69,021 a year.