The city of Bloomington, MN (55431) is an ideal place to live for those looking for affordable housing and a lower cost of living. The average two-bedroom rent in this area is $1,680, which is much lower than the US average of $1,430. Additionally, the Grocery Cost Index in this city is 102 versus 100 in the US, making it an even more attractive option for budget conscious individuals.
Not only does this area offer an affordable lifestyle but also many opportunities for employment. Local companies such as 3M, Best Buy and Target Corporation have their headquarters here providing jobs to thousands of people in the Bloomington area. Other major employers include HealthPartners and Fairview Health Services as well as the University of Minnesota-Twin Cities campus. Bloomington offers a wide variety of jobs and career paths to choose from making it a great place to live and work.
Bloomington (zip 55431) has an unemployment rate of 4.6%. The US average is 6.0%.
Bloomington (zip 55431) has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 32.4%, which is lower than the US average of 33.5%.
Tax Rates for Bloomington (zip 55431)
- The Sales Tax Rate for Bloomington (zip 55431) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Bloomington (zip 55431) 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 Bloomington (zip 55431)
- The average income of a Bloomington (zip 55431) resident is $46,524 a year. The US average is $37,638 a year.
- The Median household income of a Bloomington (zip 55431) resident is $96,486 a year. The US average is $69,021 a year.