Redwood Falls, MN (zip code 56283) is an affordable place to live, with a 2 bedroom rent of $840 compared to the US average of $1,430. Groceries are even more affordable, with a Grocery Cost Index of 95 versus the US average of 100. Redwood Falls also has a wide variety of local businesses such as S&S Equipment Co., Anderson Motors, First United Bank & Trust, Woltner’s True Value Hardware and Weber Meats. With its affordable cost of living and great selection of local businesses, Redwood Falls is a great place to call home.
Redwood Falls (zip 56283) has an unemployment rate of 5.5%. The US average is 6.0%.
Redwood Falls (zip 56283) has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 5.0%, which is lower than the US average of 33.5%.
Tax Rates for Redwood Falls (zip 56283)
- The Sales Tax Rate for Redwood Falls (zip 56283) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Redwood Falls (zip 56283) 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 Redwood Falls (zip 56283)
- The average income of a Redwood Falls (zip 56283) resident is $30,416 a year. The US average is $37,638 a year.
- The Median household income of a Redwood Falls (zip 56283) resident is $59,981 a year. The US average is $69,021 a year.