Granite Falls, MN is a small city located in the state of Minnesota, with a population of around 2,000 people. It is known for its various outdoor activities such as biking and canoeing at the nearby Pelican River. The community has many local businesses that make it a great place to live including hardware stores, grocery stores, restaurants, and gas stations. The cost of living in Granite Falls is quite reasonable compared to other cities in the Minnesota area; rent for a two bedroom apartment is $810 per month versus $1,430 on average across America. Additionally, the grocery cost index in Granite Falls is 96 compared to 100 nationally. In conclusion, Granite Falls offers a relatively low-cost lifestyle while providing excellent outdoor recreation opportunities and access to numerous local businesses.
Granite Falls has an unemployment rate of 4.4%. The US average is 6.0%.
Granite Falls has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 14.9%, which is lower than the US average of 33.5%.
Tax Rates for Granite Falls
- The Sales Tax Rate for Granite Falls is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Granite Falls 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 Granite Falls
- The average income of a Granite Falls resident is $33,422 a year. The US average is $37,638 a year.
- The Median household income of a Granite Falls resident is $53,582 a year. The US average is $69,021 a year.