Bloomington, MN is a great city located near Minneapolis. It's home to many popular companies such as Best Buy, Ameriprise Financial, HealthPartners, and UnitedHealth Group. The cost of living in Bloomington is slightly higher than the US average, with 2 bedroom rent being around $1,530 compared to $1,430 in the US. Additionally, the Grocery Cost Index is 102 versus 100 in the US. This makes Bloomington an attractive city for those looking for a bit of extra cash.
Bloomington has an unemployment rate of 4.6%. The US average is 6.0%.
Bloomington 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 32.4%, which is lower than the US average of 33.5%.
Tax Rates for Bloomington
- The Sales Tax Rate for Bloomington is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Bloomington 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 Bloomington
- The average income of a Bloomington resident is $36,430 a year. The US average is $28,555 a year.
- The Median household income of a Bloomington resident is $80,582 a year. The US average is $69,021 a year.