The city of Princeton, Minnesota (zip code 55371) is a thriving community with an estimated population of 5,164. It is a great place to live for families and individuals alike, offering a variety of housing options, including two-bedroom apartments for rent at the reasonable price of $1,200. This is slightly lower than the national average of $1,430 for two-bedroom apartments. Additionally, Princeton also offers low grocery costs with an index at 99 compared to 100 nationally.
Princeton's economy is driven by several local businesses such as D&S Manufacturing Company which specializes in custom plastic injection molding products; Yunker Industries Inc., who create steel fabrications and machined components; Finley Engineering Company that designs bridge projects; Pro-Line Building Products providing roofing materials; and InTown Fabrication delivers precision sheet metal fabrications. With so many local businesses providing jobs for its citizens, Princeton has become an attractive city to call home.
Princeton (zip 55371) has an unemployment rate of 7.9%. The US average is 6.0%.
Princeton (zip 55371) has seen the job market decrease by -3.5% over the last year. Future job growth over the next ten years is predicted to be 31.9%, which is lower than the US average of 33.5%.
Tax Rates for Princeton (zip 55371)
- The Sales Tax Rate for Princeton (zip 55371) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Princeton (zip 55371) 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 Princeton (zip 55371)
- The average income of a Princeton (zip 55371) resident is $33,624 a year. The US average is $37,638 a year.
- The Median household income of a Princeton (zip 55371) resident is $81,312 a year. The US average is $69,021 a year.