Mountain Iron, MN (55768) is a small city in Minnesota with a population of about 4,380. Rent for a two-bedroom apartment is affordable at $980 per month and the grocery cost index is 95 compared to the US average of 100. Shopping in this area is easy given the various local businesses that serve the community such as Northern Lights Home Furnishings & Floor Covering, Cedar Square Mall, and Ojibwa Steakhouse. Other local amenities include Mountain Iron Public Library, Northern Lights Community Center, and Benedictine Health System – Virginia Campus. With its low cost of living and access to community resources, Mountain Iron makes for an ideal place to live and work.
Mountain Iron (zip 55768) has an unemployment rate of 4.8%. The US average is 6.0%.
Mountain Iron (zip 55768) has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Mountain Iron (zip 55768)
- The Sales Tax Rate for Mountain Iron (zip 55768) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Mountain Iron (zip 55768) 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 Mountain Iron (zip 55768)
- The average income of a Mountain Iron (zip 55768) resident is $34,304 a year. The US average is $37,638 a year.
- The Median household income of a Mountain Iron (zip 55768) resident is $59,354 a year. The US average is $69,021 a year.