Richmond, MN is a small town in Minnesota with a tight-knit community. It offers affordable living costs compared to the US as a whole, with two bedroom rent averaging at $820/month compared to the US average of $1,430/month. Additionally, Richmond's cost of groceries are also lower than the US average with an index score of 100. Local businesses that can be found in Richmond include Hardee’s Grocery Store, Gamache & Sons Hardware Store, Uptown Cafe & Bar and more. The affordability of living costs and convenient variety of local stores makes Richmond an ideal place to live and work. According to data from apartmentlist.com and area indices from Numbeo.com , Richmond is an attractive option for those looking for a stable life in a supportive community.
Richmond has an unemployment rate of 4.7%. The US average is 6.0%.
Richmond has seen the job market decrease by -2.4% over the last year. Future job growth over the next ten years is predicted to be 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Richmond 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 Richmond
- The average income of a Richmond resident is $31,159 a year. The US average is $37,638 a year.
- The Median household income of a Richmond resident is $59,438 a year. The US average is $69,021 a year.