Rochester, Minnesota (55904) is a great place to live and work. The average 2-bedroom rent in Rochester is $1,110 per month, which is significantly lower than the national average of $1,430. Additionally, the grocery cost index in Rochester is 98 versus 100 in the US.
Rochester offers plenty of job and business opportunities, with local companies such as IBM Rochester, Mayo Clinic and Olmsted Medical Center providing jobs in healthcare and technology fields. There are also a variety of retail stores like Target and Walmart located in the downtown area. The University of Minnesota's Rochester campus provides further educational opportunities for students and industry professionals alike.
Rochester (zip 55904) has an unemployment rate of 3.6%. The US average is 6.0%.
Rochester (zip 55904) 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 34.7%, which is higher than the US average of 33.5%.
Tax Rates for Rochester (zip 55904)
- The Sales Tax Rate for Rochester (zip 55904) is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Rochester (zip 55904) 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 Rochester (zip 55904)
- The average income of a Rochester (zip 55904) resident is $26,167 a year. The US average is $28,555 a year.
- The Median household income of a Rochester (zip 55904) resident is $67,897 a year. The US average is $69,021 a year.