Cottonwood, MN County is a great place to live due to its affordable rental and grocery costs. The average two bedroom rent in Cottonwood is $830 per month, a full $600 less than the US average of $1,430. Grocery costs are also significantly lower in Cottonwood as the Grocery Cost Index is 93 compared to 100 in the US.
Cottonwood is home to many local businesses such as TC Foods, an agricultural processor; Southern Minnesota Beet Sugar Cooperative factory; New Fashion Pork; and Brooks Oil Company. Residents also enjoy shopping at locally owned stores like Emmert's Market and McLeod's Town & Country Store for their shopping needs.
Cottonwood County has an unemployment rate of 4.1%. The US average is 6.0%.
Cottonwood County has seen the job market increase by 4.8% over the last year. Future job growth over the next ten years is predicted to be 12.8%, which is lower than the US average of 33.5%.
Tax Rates for Cottonwood County
- The Sales Tax Rate for Cottonwood County is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Cottonwood County 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 Cottonwood County
- The average income of a Cottonwood County resident is $30,220 a year. The US average is $37,638 a year.
- The Median household income of a Cottonwood County resident is $56,297 a year. The US average is $69,021 a year.