Norwood Young America, MN is a small town located in Carver County with an estimated population of 2,632 people as of 2019. The town offers a quiet and relaxed lifestyle for its residents with close proximity to larger cities like Minneapolis and St Paul. The two-bedroom rent in Norwood Young America is $1,240 which is significantly lower than the US average of $1,430. This makes it more affordable for people looking for a comfortable place to live in this area.
The cost of living index in Norwood Young America is 99 or 1% less than the US average which makes it an attractive option to those looking to save money on their daily expenses. Local companies such as Norwood Coop Creamery and Norwood Medical Center provide job opportunities while businesses like Drahota Real Estate Services and AAA Auto Sales offer services to the local community. There are several grocery stores such as Norwood Food Market, Farmers Markets, and Country Store that provide fresh produce at relatively reasonable prices. Overall, Norwood Young America is an ideal place to live if you are looking for a quiet yet affordable town located near major cities.
Norwood Young America (zip 55368) has an unemployment rate of 3.7%. The US average is 6.0%.
Norwood Young America (zip 55368) has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Norwood Young America (zip 55368)
- The Sales Tax Rate for Norwood Young America (zip 55368) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Norwood Young America (zip 55368) 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 Norwood Young America (zip 55368)
- The average income of a Norwood Young America (zip 55368) resident is $39,934 a year. The US average is $37,638 a year.
- The Median household income of a Norwood Young America (zip 55368) resident is $74,907 a year. The US average is $69,021 a year.