New Richland, MN (56072) is a small town with a population of 1,214 according to the U.S. Census Bureau. This rural community has an average 2 bedroom rent of $800 which is significantly lower than the national average of $1,430 per month. The cost of living is relatively low compared to other towns in the region as the grocery cost index in New Richland stands at 96 versus 100 in the US.
New Richland is home to a number of local businesses such as Richland Supermarket, Wilcox Feed Mill, and Rob's Hardware & Repair Shop that offer residents a wide variety of services and products at competitive prices. The town also has several restaurants including R Bar & Grill and Casey's Bar & Grill for those who enjoy dining out or grabbing a bite to eat on the go. All these factors make New Richland an affordable place to live with plenty of amenities within close proximity.
New Richland (zip 56072) has an unemployment rate of 6.0%. The US average is 6.0%.
New Richland (zip 56072) has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for New Richland (zip 56072)
- The Sales Tax Rate for New Richland (zip 56072) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New Richland (zip 56072) 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 Richland (zip 56072)
- The average income of a New Richland (zip 56072) resident is $24,156 a year. The US average is $28,555 a year.
- The Median household income of a New Richland (zip 56072) resident is $67,679 a year. The US average is $69,021 a year.