The small town of Canton, MN (55922) is a peaceful community with a population of only 1,500 people. Located in the southeast corner of Minnesota, Canton is close to larger metropolitan areas like Rochester and Minneapolis where residents can access plenty of amenities. The 2 bedroom rent in this small town is $830 which is much lower than the US average of $1,430. Residents also enjoy low grocery costs with an index of 94 compared to the US average of 100. Living in Canton is very affordable due to its low costs for housing and groceries. Local companies in Canton include Twin City Electrical Supply Co., Maple Ridge Dairy, and Heartland Automation & Electric Inc., all providing employment opportunities for the local population. In all, Canton's cost of living remains relatively low making it a great place to set up residence and enjoy small-town life without sacrificing too much on expenses.
Canton (zip 55922) has an unemployment rate of 4.7%. The US average is 6.0%.
Canton (zip 55922) 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 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Canton (zip 55922)
- The Sales Tax Rate for Canton (zip 55922) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Canton (zip 55922) 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 Canton (zip 55922)
- The average income of a Canton (zip 55922) resident is $21,880 a year. The US average is $37,638 a year.
- The Median household income of a Canton (zip 55922) resident is $61,875 a year. The US average is $69,021 a year.