Welch, Minnesota (zip code 55089) is an affordable place to live in. According to recent reports, the 2 bedroom rent in Welch is $1,180, which is approximately $250 lower than the US average of $1,430. This makes it ideal for anyone looking for an economical living option. Moreover, the Grocery Cost Index in Welch is 103 compared to 100 in the US. This means that groceries are slightly more expensive in Welch than the nationwide average.
Welch is home to a diverse array of businesses including local favorites such as Roers Zomer Park, True Value Hardware Store, So Good Restaurant & Bar and M&M Auto Repair. These businesses provide jobs and services vital for any community's success and growth. With its economical housing options and local amenities, Welch is a great place to live for everyone regardless of budget and lifestyle.
Welch (zip 55089) has an unemployment rate of 4.6%. The US average is 6.0%.
Welch (zip 55089) has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 28.0%, which is lower than the US average of 33.5%.
Tax Rates for Welch (zip 55089)
- The Sales Tax Rate for Welch (zip 55089) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Welch (zip 55089) 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 Welch (zip 55089)
- The average income of a Welch (zip 55089) resident is $36,968 a year. The US average is $28,555 a year.
- The Median household income of a Welch (zip 55089) resident is $89,813 a year. The US average is $69,021 a year.