Ada, MN (Zip Code 56510) is a small city in Norman County with an estimated population of 1,903. The average rent for a two-bedroom apartment is significantly lower in Ada than in the US on average, at just $840 compared to $1,430. Additionally, grocery costs in Ada have a Grocery Cost Index of 93 compared to 100 in the US, meaning groceries are generally more affordable there than elsewhere.
Ada has several local businesses that make up its economy including Bell Bank, S & T Bank Equipment Company Inc., Central Market Co-op Grocery Store, and HomeTown Floral & Gifts. These businesses provide jobs and services to the local population as well as bring money into the community.
Overall, Ada provides a unique combination of lower rent prices and grocery costs that makes it an attractive option for those looking for an affordable place to live and work. This cost of living advantage helps create a thriving community where residents can enjoy all the benefits of living in a small town.
Ada (zip 56510) has an unemployment rate of 5.7%. The US average is 6.0%.
Ada (zip 56510) has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 17.2%, which is lower than the US average of 33.5%.
Tax Rates for Ada (zip 56510)
- The Sales Tax Rate for Ada (zip 56510) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Ada (zip 56510) 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 Ada (zip 56510)
- The average income of a Ada (zip 56510) resident is $31,197 a year. The US average is $37,638 a year.
- The Median household income of a Ada (zip 56510) resident is $58,929 a year. The US average is $69,021 a year.