55959 Minnesota City, MN is an area with affordability in mind. This small city offers 2 Bedroom Rent for only $900, which is significantly lower than the US average of $1,430. Additionally, this city has an index score of 100 on a Grocery Cost Index, meaning it is equivalent to the US average.
This area is home to many companies such as The Land O’ Lakes Co Op, J&J Distributing Co Inc., and Russell Standard Corporation. Salaries are fairly competitive with junior positions at The Land O’ Lakes Co Op paying around $45,000 annually and senior positions paying up to $80,000 yearly. At J&J Distributing Co Inc., entry-level jobs offer compensation of approximately $30,000 each year while top positions pay upwards of $70,000. Finally, employees at Russell Standard Corporation can make anywhere between $30,000 and $90,000 per year based on skill and experience.
Overall 55959 Minnesota City, MN is a great place to live and work due its low cost of living paired with competitive salaries from local companies.
Minnesota City (zip 55959) has an unemployment rate of 3.7%. The US average is 6.0%.
Minnesota City (zip 55959) has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 24.9%, which is lower than the US average of 33.5%.
Tax Rates for Minnesota City (zip 55959)
- The Sales Tax Rate for Minnesota City (zip 55959) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Minnesota City (zip 55959) 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 Minnesota City (zip 55959)
- The average income of a Minnesota City (zip 55959) resident is $30,242 a year. The US average is $37,638 a year.
- The Median household income of a Minnesota City (zip 55959) resident is $58,295 a year. The US average is $69,021 a year.