Minneapolis, MN (55405) is a great place to live for potential renters. The average 2 bedroom rent in Minneapolis is $1,380 per month which is slightly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Minneapolis is 105 compared to 100 in the US, making groceries a bit more expensive in the area. \nThe city of Minneapolis offers a lot for its residents including numerous local businesses. Popular companies include Target Corporation, U.S. Bancorp, Cargill and Xcel Energy. There are also many historic sites and attractions such as Mill City Museum, Walker Art Center and Minnesota Zoo that make this city an entertaining place to live. \nOverall 55405 Minneapolis provides potential renters with an affordable housing market along with exciting local businesses and attractions—making it an ideal location to call home!
Minneapolis (zip 55405) has an unemployment rate of 4.5%. The US average is 6.0%.
Minneapolis (zip 55405) has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Minneapolis (zip 55405)
- The Sales Tax Rate for Minneapolis (zip 55405) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Minneapolis (zip 55405) 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 Minneapolis (zip 55405)
- The average income of a Minneapolis (zip 55405) resident is $53,401 a year. The US average is $37,638 a year.
- The Median household income of a Minneapolis (zip 55405) resident is $64,504 a year. The US average is $69,021 a year.