Rochester, MN Metro Area is an affordable place to live. Its average 2 bedroom rent is $1,150 which is much lower than the US average of $1,430. Additionally, the grocery cost index in Rochester is 98 versus 100 in the US, indicating that groceries are even cheaper than the national average. This makes it appealing for those looking to save on costs. There are many local companies based in Rochester such as Mayo Clinic, IBM Corporation, U.S. Bank, and Charter Communications that offer well-paying jobs to locals while also providing a wide variety of goods and services to citizens at budget friendly prices. All in all, Rochester provides its residents with a low cost of living coupled with ample job opportunities and high quality amenities.
Rochester Metro Area has an unemployment rate of 4.0%. The US average is 6.0%.
Rochester Metro Area has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 32.4%, which is lower than the US average of 33.5%.
Tax Rates for Rochester Metro Area
- The Sales Tax Rate for Rochester Metro Area is 7.8%. The US average is 7.3%.
- The Income Tax Rate for Rochester Metro Area 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 Rochester Metro Area
- The average income of a Rochester Metro Area resident is $32,950 a year. The US average is $28,555 a year.
- The Median household income of a Rochester Metro Area resident is $80,865 a year. The US average is $69,021 a year.