Minneapolis, MN 55418 is a lively city with plenty of local businesses and amenities. Rent for two bedroom apartments in the area is around $1,270, and the grocery cost index is slightly lower than the national average, at 101 compared to 100. There are numerous companies in Minneapolis that cater to residents’ needs; some of these include Target Corporation, Xcel Energy, General Mills Inc., US Bancorp, SuperValu Inc., 3M Company, and Ameriprise Financial. These businesses provide employment opportunities for locals and help keep the city thriving.
Minneapolis (zip 55418) has an unemployment rate of 4.5%. The US average is 6.0%.
Minneapolis (zip 55418) 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 55418)
- The Sales Tax Rate for Minneapolis (zip 55418) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Minneapolis (zip 55418) 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 55418)
- The average income of a Minneapolis (zip 55418) resident is $47,218 a year. The US average is $37,638 a year.
- The Median household income of a Minneapolis (zip 55418) resident is $80,600 a year. The US average is $69,021 a year.