Medford, MN (zip code 55049) is a town with an estimated population of 1,204. It is located in Steele County and is known for its friendly atmosphere and access to nature. The 2 bedroom rent for the area is $800 compared to the US average of $1,430. Additionally, grocery costs index 97 versus 100 in the US.
Local companies such as Ace Hardware, Reflections Hair & Body Studio, Medford City Hall and Medford Dental Care serve the community of Medford. Many residents also visit nearby Rochester or Owatonna for work or shopping. With plenty of parks and trails it's easy to get out into nature and appreciate all that Medford has to offer.
Medford (zip 55049) has an unemployment rate of 4.9%. The US average is 6.0%.
Medford (zip 55049) has seen the job market decrease by -6.2% over the last year. Future job growth over the next ten years is predicted to be 14.8%, which is lower than the US average of 33.5%.
Tax Rates for Medford (zip 55049)
- The Sales Tax Rate for Medford (zip 55049) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Medford (zip 55049) 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 Medford (zip 55049)
- The average income of a Medford (zip 55049) resident is $33,886 a year. The US average is $37,638 a year.
- The Median household income of a Medford (zip 55049) resident is $80,000 a year. The US average is $69,021 a year.