Deer River, Minnesota is a small city located in Itasca County just south of the Chippewa National Forest. The area is known for its lush forests, abundant wildlife, and many recreational activities. In terms of housing costs, the average two-bedroom rent in Deer River is $940 per month. This is significantly lower than the US average of $1,430 per month. Additionally, the grocery cost index in Deer River is 96 versus 100 in the US on average; this indicates that groceries are slightly more expensive here than elsewhere in the country. Local companies such as Arvig Communications, KJ's Superstore INC., and High Energy Harvesting INC. offer employment opportunities to people living in Deer River. The current inflation rate for Deer River as of March 2021 was 2%.
Deer River (zip 56636) has an unemployment rate of 6.2%. The US average is 6.0%.
Deer River (zip 56636) has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Deer River (zip 56636)
- The Sales Tax Rate for Deer River (zip 56636) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Deer River (zip 56636) 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 Deer River (zip 56636)
- The average income of a Deer River (zip 56636) resident is $21,929 a year. The US average is $28,555 a year.
- The Median household income of a Deer River (zip 56636) resident is $58,750 a year. The US average is $69,021 a year.