New Ulm, MN Metro Area is a great place to live with an affordable cost of living. With 2 bedroom rent at only $830 compared to the US average of $1,430, New Ulm is definitely worth a look. The grocery cost index in New Ulm is also quite low at 96 compared to 100 for the US. There are many new and exciting local businesses in New Ulm such as Green Mill Restaurant & Bar, Microtel Inn & Suites by Wyndham and Hy-Vee. Tourists can enjoy attractions like Flandrau State Park, Hermann Heights Monument and Hermann The Germans Statue. New Ulm has plenty of amenities including a library, movie theater, post office, banks and several parks.
New Ulm Metro Area has an unemployment rate of 4.8%. The US average is 6.0%.
New Ulm Metro Area has seen the job market decrease by -2.3% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for New Ulm Metro Area
- The Sales Tax Rate for New Ulm Metro Area is 7.7%. The US average is 7.3%.
- The Income Tax Rate for New Ulm 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 New Ulm Metro Area
- The average income of a New Ulm Metro Area resident is $32,619 a year. The US average is $37,638 a year.
- The Median household income of a New Ulm Metro Area resident is $62,999 a year. The US average is $69,021 a year.