Farwell, MN (56327) is a small city located in southeastern Minnesota. It is home to fewer than 1,500 people, which makes it a quiet and cozy place to live. The cost of living here is quite reasonable; 2 bedroom rent averages around $940 per month while the national average is $1,430. Grocery prices are also lower in Farwell with a grocery cost index of 102 compared to 100 nationally.
The city boasts several shops and businesses such as Kay's Korner Grocery Store, Bite O' Heaven Café, Farwell Autoparts & Service, as well as many others. With its low cost of living and little local businesses, Farwell MN (56327) is an ideal location for those seeking peace and quiet while still having access to all the amenities they need.
Farwell (zip 56327) has an unemployment rate of 4.1%. The US average is 6.0%.
Farwell (zip 56327) 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 36.5%, which is higher than the US average of 33.5%.
Tax Rates for Farwell (zip 56327)
- The Sales Tax Rate for Farwell (zip 56327) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Farwell (zip 56327) 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 Farwell (zip 56327)
- The average income of a Farwell (zip 56327) resident is $40,395 a year. The US average is $37,638 a year.
- The Median household income of a Farwell (zip 56327) resident is $71,964 a year. The US average is $69,021 a year.