Minnesota Falls, MN is an affordable place to live. According to the data gathered, the two bedroom rent in this city is only $810 which is much lower than the average of $1,430 for the US. The index for grocery cost is also lower than that of the national average at 96 versus 100. This makes it a great option to consider when thinking about where to live. Notable local companies in Minnesota Falls include grocery stores such as Piggly Wiggly, Acme Fresh Market and Walmart Supercenter. Other popular businesses include banks like U.S Bank and Wells Fargo, hardware stores like Home Depot and Menard’s and numerous restaurants.
Minnesota Falls has an unemployment rate of 4.4%. The US average is 6.0%.
Minnesota 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 Minnesota Falls
- The Sales Tax Rate for Minnesota Falls is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Minnesota 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 Minnesota Falls
- The average income of a Minnesota Falls resident is $29,285 a year. The US average is $28,555 a year.
- The Median household income of a Minnesota Falls resident is $67,500 a year. The US average is $69,021 a year.