55932 Elgin, MN is a small town located in Olmsted County. It's a beautiful place to live with locals enjoying the many local businesses and attractions that keep them entertained. The local 2 bedroom rent is $970 which is $460 less than the US average of $1,430 making it an attractive option for those on a budget. Additionally, the grocery cost index in Elgin comes in at 99 versus 100 in the US which means groceries cost slightly less there than the national average. Some of the businesses found in 55932 Elgin include Meadow Creek Family Dining, Millie's Cafe & Catering, and Marge's Ice Cream Farm. Attractions include The History Center of Olmsted County and Quarry Hill Nature Center. With its affordability and variety of activities, 55932 Elgin is an enjoyable place to live!
Elgin (zip 55932) has an unemployment rate of 4.4%. The US average is 6.0%.
Elgin (zip 55932) 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 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Elgin (zip 55932)
- The Sales Tax Rate for Elgin (zip 55932) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Elgin (zip 55932) 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 Elgin (zip 55932)
- The average income of a Elgin (zip 55932) resident is $41,786 a year. The US average is $37,638 a year.
- The Median household income of a Elgin (zip 55932) resident is $85,250 a year. The US average is $69,021 a year.