The city of Andover, MN (zip code 55304) is a suburban community located in Anoka County about 25 miles north of Minneapolis. The median two-bedroom rent in Andover is $1,940 which is $510 more than the national average rent of $1,430. This may be due to the fact that Andover is home to many established businesses such as Northwest Airlines, Target Corporation, and Allina Health Systems. There are also several high quality educational institutions near Andover such as St. Cloud State University and Bethel University. The area also offers amenities like parks, trails, and a variety of shopping and dining options. Furthermore, the Grocery Cost Index in Andover is 103 versus 100 in the US making the cost of living in this area relatively higher compared to other areas but still affordable for most people.
Andover (zip 55304) has an unemployment rate of 3.6%. The US average is 6.0%.
Andover (zip 55304) has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 37.0%, which is higher than the US average of 33.5%.
Tax Rates for Andover (zip 55304)
- The Sales Tax Rate for Andover (zip 55304) is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Andover (zip 55304) 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 Andover (zip 55304)
- The average income of a Andover (zip 55304) resident is $48,653 a year. The US average is $37,638 a year.
- The Median household income of a Andover (zip 55304) resident is $115,111 a year. The US average is $69,021 a year.