The average rent for a 2-bedroom apartment in the Minneapolis zip code of 55409 is $1,340, slightly lower than the US average of $1,430. This area is home to a variety of local businesses including Target Corporation, U.S. Bancorp, Xcel Energy Inc., Hormel Foods Corporation, and 3M Company. The cost of groceries in 55409 is also competitive when compared to the rest of the US with an index rating of 102 versus 100 in the US. Minneapolis residents can enjoy a wide variety of activities including biking along Mississippi River trails and winter sports at nearby ski resorts like Hyland Hills Ski Area or Buck Hill Ski Resort.
Minneapolis (zip 55409) has an unemployment rate of 4.5%. The US average is 6.0%.
Minneapolis (zip 55409) 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 55409)
- The Sales Tax Rate for Minneapolis (zip 55409) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Minneapolis (zip 55409) 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 55409)
- The average income of a Minneapolis (zip 55409) resident is $50,181 a year. The US average is $37,638 a year.
- The Median household income of a Minneapolis (zip 55409) resident is $86,061 a year. The US average is $69,021 a year.