The small town of Corcoran, Minnesota (55340) is situated in Hennepin County. Home to about 6,000 residents, it offers a vibrant and picturesque landscape. The median 2 bedroom rent is just $1,870, which is significantly less than the US average of $1,430. Grocery costs are also quite reasonable here with an index value of 107 versus the US average of 100.
Corcoran has a few local companies providing a variety of goods and services such as Living Green Landscaping & Maintenance which specializes in sustainable lawn care and landscaping design; Corcoran Auto Repair offering excellent car maintenance services; and Caribou Coffeehouse for coffee lovers. Additionally, there’s also Corcoran Pharmacy which sells pharmaceuticals and provides advice on health care products. With its low cost of living yet quality lifestyle options, Corcoran is a great place to call home.
Corcoran (zip 55340) has an unemployment rate of 4.2%. The US average is 6.0%.
Corcoran (zip 55340) 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 36.9%, which is higher than the US average of 33.5%.
Tax Rates for Corcoran (zip 55340)
- The Sales Tax Rate for Corcoran (zip 55340) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Corcoran (zip 55340) 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 Corcoran (zip 55340)
- The average income of a Corcoran (zip 55340) resident is $72,598 a year. The US average is $37,638 a year.
- The Median household income of a Corcoran (zip 55340) resident is $166,953 a year. The US average is $69,021 a year.