The Faribault-Northfield, MN Metro Area is a great place to live for those looking for an affordable lifestyle. The average rent for a two-bedroom apartment in the area is only $1,070, compared to the national average of $1,430. Furthermore, grocery costs are close to the national average at 100 versus 100 in the US. There are many great local companies to work at in the Faribault-Northfield area. These include Northfield Hospital & Clinics, Northfield Public Schools, and Mediacom Communications Corporation. Additionally, large corporations like International Paper and Nestle Purina PetCare have offices or plants in Northfield.
Faribault-Northfield Metro Area has an unemployment rate of 4.2%. The US average is 6.0%.
Faribault-Northfield Metro Area has seen the job market increase by 2.2% over the last year. Future job growth over the next ten years is predicted to be 37.9%, which is higher than the US average of 33.5%.
Tax Rates for Faribault-Northfield Metro Area
- The Sales Tax Rate for Faribault-Northfield Metro Area is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Faribault-Northfield 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 Faribault-Northfield Metro Area
- The average income of a Faribault-Northfield Metro Area resident is $26,192 a year. The US average is $28,555 a year.
- The Median household income of a Faribault-Northfield Metro Area resident is $71,384 a year. The US average is $69,021 a year.