Newport, Minnesota is a small city located in Washington County with a population of just under 5,000. The town is known for its peaceful atmosphere and friendly community. The rental rate of two bedroom homes in Newport is $1,210, which is close to the US average of $1,430. Additionally, the cost of groceries in Newport is also quite low compared to the US index at 100 versus 100. There are various local businesses in Newport that residents and visitors alike enjoy frequenting. Some popular stores include Byerly’s Grocery Store, McDonald’s Restaurant, and Gander Outdoors – all conveniently located downtown near City Hall. The city also has several specialty shops such as a florist, bakery, and bookstore.
Newport (zip 55055) has an unemployment rate of 3.9%. The US average is 6.0%.
Newport (zip 55055) has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.4%, which is higher than the US average of 33.5%.
Tax Rates for Newport (zip 55055)
- The Sales Tax Rate for Newport (zip 55055) is 7.1%. The US average is 7.3%.
- The Income Tax Rate for Newport (zip 55055) 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 Newport (zip 55055)
- The average income of a Newport (zip 55055) resident is $26,954 a year. The US average is $28,555 a year.
- The Median household income of a Newport (zip 55055) resident is $58,455 a year. The US average is $69,021 a year.