The city of Minneapolis, Minnesota (zip code 55412) is an exciting place to live. It's a vibrant mix of culture and entertainment, offering a wide range of activities for all ages. The rent for a two-bedroom apartment in Minneapolis is $1,490, which is slightly higher than the average 2 bedroom rent for the US at $1,430. Additionally, groceries in Minneapolis are more expensive than the national average with an index score of 97 compared to 100.
Minneapolis is also home to several major companies including Target Corporation, UnitedHealth Group Incorporated., Best Buy Co., Xcel Energy Inc., and General Mills Inc. All these employers contribute to the regional economy and provide robust job opportunities for local residents.
In conclusion, Minneapolis offers an affordable cost of living compared to other cities in the US. With reasonable rent prices and access to many local businesses, it’s no wonder that so many people choose to make Minneapolis their home.
Minneapolis (zip 55412) has an unemployment rate of 4.5%. The US average is 6.0%.
Minneapolis (zip 55412) 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 55412)
- The Sales Tax Rate for Minneapolis (zip 55412) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Minneapolis (zip 55412) 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 55412)
- The average income of a Minneapolis (zip 55412) resident is $26,571 a year. The US average is $37,638 a year.
- The Median household income of a Minneapolis (zip 55412) resident is $54,594 a year. The US average is $69,021 a year.