Olivia, Minnesota, zip code 56277 is an affordable place to live. The rent for a 2 bedroom apartment is $840 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Olivia is 95 whereas the index in the US is 100. This makes Olivia a great location for those who are looking to save money.
In terms of local companies, there are several based in Olivia such as Big O Tire & Auto Service which offers automotive repair services and BMO Harris Bank which provides banking and financial services. Additionally, there's Runnings Farm & Fleet where individuals can find hardware supplies and farm equipment; Appelgeth Construction specializing in commercial/residential concrete cutting and coring; as well as J&D Meats offering fresh meats, cheeses, and other grocery items.
Olivia (zip 56277) has an unemployment rate of 5.9%. The US average is 6.0%.
Olivia (zip 56277) has seen the job market decrease by -1.4% over the last year. Future job growth over the next ten years is predicted to be 46.0%, which is higher than the US average of 33.5%.
Tax Rates for Olivia (zip 56277)
- The Sales Tax Rate for Olivia (zip 56277) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Olivia (zip 56277) 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 Olivia (zip 56277)
- The average income of a Olivia (zip 56277) resident is $32,182 a year. The US average is $37,638 a year.
- The Median household income of a Olivia (zip 56277) resident is $60,846 a year. The US average is $69,021 a year.