Winthrop, MN is a small town in Minnesota with plenty of local businesses to choose from. Popular businesses include Winthrop Family Market, Winthrop Drug Store, and Ace Hardware. The cost of living in Winthrop is below the United States average since the median rent for a 2 bedroom apartment is around $890 while the median rent for a 2 bedroom apartment across the US is $1,430. Additionally, groceries are less expensive in Winthrop with an index of 96 compared to 100 across the United States. In general, living in Winthrop is not nearly as expensive as other parts of Minnesota or the nation.
Winthrop has an unemployment rate of 5.3%. The US average is 6.0%.
Winthrop has seen the job market increase by 1.7% over the last year. Future job growth over the next ten years is predicted to be 29.8%, which is lower than the US average of 33.5%.
Tax Rates for Winthrop
- The Sales Tax Rate for Winthrop is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Winthrop 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 Winthrop
- The average income of a Winthrop resident is $22,576 a year. The US average is $28,555 a year.
- The Median household income of a Winthrop resident is $58,750 a year. The US average is $69,021 a year.