Henning, MN (zip code 56551) is a small city located in northwest Minnesota. The area has a population of just over 700 people and is known for its quiet community atmosphere. The cost of living in Henning is lower than the US overall with an average 2 bedroom rent of $870 compared to a national average of $1,430 per month. Grocery costs are also less expensive with a grocery cost index of 95 compared to 100 in the US.
The local economy is mainly supported by businesses such as F&M Bank, B & D Parts, Carl's Market, Hammer Ag Supply and Nilsons Hardware and Lumber. These businesses provide jobs for residents as well as goods and services that keep the community running. With its low rent prices and cost of living Henning can be an attractive option for those looking to relocate to a peaceful small town without breaking the bank.
Henning (zip 56551) has an unemployment rate of 5.3%. The US average is 6.0%.
Henning (zip 56551) has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Henning (zip 56551)
- The Sales Tax Rate for Henning (zip 56551) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Henning (zip 56551) 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 Henning (zip 56551)
- The average income of a Henning (zip 56551) resident is $22,903 a year. The US average is $28,555 a year.
- The Median household income of a Henning (zip 56551) resident is $57,292 a year. The US average is $69,021 a year.