New Prague, Minnesota (zip code 56071) is a growing town located about 50 miles south of the Twin Cities. The average 2 bedroom apartment rent is $1,280, which is a bit lower than the national average of $1,430. The Grocery Cost Index of New Prague is 101 compared to the US index of 100, so grocery items in the area are slightly more expensive than other parts of the country. Many popular chain stores are available in New Prague such as Walmart Supercenter, Cub Foods, Target, and Cabela's for convenient shopping. There are also local businesses that residents can support including Autumn Farms Country Store for groceries and other goods, Bus Stop Cafe for breakfast and lunch dining options in a family-friendly atmosphere, and Klammer’s Hardware & Rental for home improvement projects. All in all, living in New Prague costs less than many other parts of the country but does come with slightly higher grocery costs to consider.
New Prague (zip 56071) has an unemployment rate of 4.1%. The US average is 6.0%.
New Prague (zip 56071) has seen the job market decrease by -3.7% over the last year. Future job growth over the next ten years is predicted to be 38.2%, which is higher than the US average of 33.5%.
Tax Rates for New Prague (zip 56071)
- The Sales Tax Rate for New Prague (zip 56071) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for New Prague (zip 56071) 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 New Prague (zip 56071)
- The average income of a New Prague (zip 56071) resident is $41,343 a year. The US average is $37,638 a year.
- The Median household income of a New Prague (zip 56071) resident is $99,545 a year. The US average is $69,021 a year.