56245 Hanley Falls, MN is located in Yellow Medicine County and is a small town of only 352 people. The 2 bedroom rent in the area is $850, which is much lower than the US average of $1,430. Furthermore, grocery costs in the area are indexed at 95 compared to 100 nationally. This makes these basic necessities more affordable for those living in the area.
The economy of Hanley Falls is driven by its local businesses that provide jobs and goods for its citizens. Notable companies include Larson’s Marine which sells boats and fishing supplies as well as Tietz Construction, a building company providing services such as roofing and siding repair. Additionally, Melby’s Greenhouse offers locally grown plants and landscaping services while Main Street Market provides everyday groceries including dairy, meat and produce year round.
Hanley Falls (zip 56245) has an unemployment rate of 4.4%. The US average is 6.0%.
Hanley Falls (zip 56245) has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 14.9%, which is lower than the US average of 33.5%.
Tax Rates for Hanley Falls (zip 56245)
- The Sales Tax Rate for Hanley Falls (zip 56245) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Hanley Falls (zip 56245) 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 Hanley Falls (zip 56245)
- The average income of a Hanley Falls (zip 56245) resident is $29,828 a year. The US average is $37,638 a year.
- The Median household income of a Hanley Falls (zip 56245) resident is $80,568 a year. The US average is $69,021 a year.