Zip 55706 (Babbitt, MN) 

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Economy in Zip 55706 (Babbitt, MN)

Babbitt (zip 55706) has an unemployment rate of 4.8%. The US average is 6.0%.

Babbitt (zip 55706) has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.

Tax Rates for Babbitt (zip 55706)
- The Sales Tax Rate for Babbitt (zip 55706) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Babbitt (zip 55706) 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 Babbitt (zip 55706)
- The average income of a Babbitt (zip 55706) resident is $24,819 a year. The US average is $28,555 a year.
- The Median household income of a Babbitt (zip 55706) resident is $42,446 a year. The US average is $53,482 a year.

INCOME BY POPULATION PERCENT

  ECONOMYBabbitt, MinnesotaUnited States
  4.8%6.0%
  -4.0%-6.2%
  29.9%33.5%
  7.4%6.2%
  7.1%4.6%
  $26,159$31,177
  $41,667$57,652
  $51,375$70,850
  POPULATION BY OCCUPATION
  1.0%1.3%
  10.2%0.6%
  4.4%6.2%
  9.4%10.4%
  0.3%2.7%
  10.5%11.6%
  1.3%4.1%
  1.3%0.9%
  1.0%2.1%
  4.1%4.7%
  1.3%1.9%
  1.3%6.7%
  0.0%0.1%
  1.6%4.3%
  7.8%9.3%
  20.6%13.8%
  2.7%2.2%
  7.5%7.4%
  6.2%4.9%
  7.4%4.8%
ECONOMY MAP
  • Unemployment Rate (US Avg: 6%)
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