Zip 56264 (Minneota, MN) Economy


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Minneota, MN (zip code 56264) is located in Lyon County and has a population of 1,350. The cost of living here is relatively low with the median two bedroom rent being $840, which is a great bargain compared to the US average of $1,430. Local companies include Minneota Manufacturing Company, MVS Automotive Solutions, and TVR Realty Group. Residents here have access to affordable groceries with the Grocery Cost Index being 93 versus 100 in the US. Those looking for an affordable place to live should consider Minneota as it offers an excellent quality of life for its citizens.

Minneota (zip 56264) has an unemployment rate of 4.2%. The US average is 6.0%.

Minneota (zip 56264) has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.

Tax Rates for Minneota (zip 56264)
- The Sales Tax Rate for Minneota (zip 56264) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Minneota (zip 56264) 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 Minneota (zip 56264)
- The average income of a Minneota (zip 56264) resident is $28,198 a year. The US average is $28,555 a year.
- The Median household income of a Minneota (zip 56264) resident is $66,652 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyMinneota, MinnesotaUnited States
  4.26
  -2.4%-6.2%
  22.0%33.5%
  7.4%6.2%
  7.1%4.6%
  $32,839$37,638
  $66,652$69,021
  $81,429$85,028
  Population by Occupation
  10.8%1.2%
  0.4%0.5%
  9.0%6.8%
  10.7%10.0%
  3.7%2.5%
  8.8%11.0%
  3.8%4.8%
  0.1%0.8%
  1.1%1.9%
  6.0%4.7%
  0.1%1.9%
  2.3%7.6%
  0.0%0.1%
  1.8%4.2%
  13.2%9.3%
  16.0%14.0%
  1.3%2.1%
  2.8%7.0%
  3.9%4.8%
  4.1%4.7%
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