Magnolia, WI is a small town with a population of less than 1,000 people. Despite its small size, it boasts an impressive array of local businesses such as Bloomer Furniture Manufacturing Company, Tommie's Repair Shop, and Magnolia Fresh Market. The average educational level in the town is high with many residents taking advantage of educational opportunities at nearby UW-Stout and Chippewa Valley Technical College. Magnolia also has a relatively low cost of living compared to the rest of the United States. The average rent for a two-bedroom apartment in the area is $980 while groceries cost approximately 95 out of 100 compared to those in other parts of the country.
Magnolia has an unemployment rate of 5.1%. The US average is 6.0%.
Magnolia has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 34.4%, which is higher than the US average of 33.5%.
Tax Rates for Magnolia
- The Sales Tax Rate for Magnolia is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Magnolia is 6.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Magnolia
- The average income of a Magnolia resident is $26,446 a year. The US average is $28,555 a year.
- The Median household income of a Magnolia resident is $54,438 a year. The US average is $69,021 a year.