Pipestone, MN (56164) is a small city located in southwestern Minnesota near the Iowa border. The average rent for a 2 bedroom apartment in the area is $840, which is significantly lower than the national average of $1,430. Grocery prices are also lower than most areas in the US at an index of 94 versus 100 nationally.
The city has multiple prominent employers such as Pipestone Veterinary Services, Home Federal Bank, Pipestone County Medical Center, and C&K Trucking Inc. The city also receives economic support from local businesses like Kountry Floral and Gifts, Pipestone Lumber Co., and Dahlstrom Motors. With its strong economy and low cost of living, Pipestone is an attractive place to live or visit.
Pipestone (zip 56164) has an unemployment rate of 5.1%. The US average is 6.0%.
Pipestone (zip 56164) has seen the job market increase by 3.0% over the last year. Future job growth over the next ten years is predicted to be 28.7%, which is lower than the US average of 33.5%.
Tax Rates for Pipestone (zip 56164)
- The Sales Tax Rate for Pipestone (zip 56164) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Pipestone (zip 56164) 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 Pipestone (zip 56164)
- The average income of a Pipestone (zip 56164) resident is $26,493 a year. The US average is $28,555 a year.
- The Median household income of a Pipestone (zip 56164) resident is $61,994 a year. The US average is $69,021 a year.