Bloomington, Minnesota is an incredibly charming city located in the state's Twin Cities metropolitan area. Home to a population of roughly 84,000 people, Bloomington is well-known for its abundance of local businesses and attractions. The city boasts two bedroom rent at $1,620 which is slightly higher than the national average of $1,430. The cost of groceries here is also slightly higher than the national average with a Grocery Cost Index of 103 compared to the US’s 100. Popular attractions and landmarks in Bloomington include Mall of America, Nickelodeon Universe theme park, Minnesota Valley National Wildlife Refuge, Crayola Experience Mall of America, Sea Life Minnesota Aquarium and Valleyfair Amusement Park. Local businesses include Best Buy Headquarters, Toro Company Headquarters, United Health Group Headquarters as well as numerous restaurants and retail stores. Many residents are drawn to Bloomington due to its convenient location near Minneapolis–St. Paul International Airport and downtown Minneapolis.
Bloomington (zip 55438) has an unemployment rate of 4.6%. The US average is 6.0%.
Bloomington (zip 55438) 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 55438)
- The Sales Tax Rate for Bloomington (zip 55438) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Bloomington (zip 55438) 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 55438)
- The average income of a Bloomington (zip 55438) resident is $56,616 a year. The US average is $37,638 a year.
- The Median household income of a Bloomington (zip 55438) resident is $87,737 a year. The US average is $69,021 a year.