Rochester, MN (postal code 55906) is a great place to live, as it offers relatively affordable rent and a modest cost of living compared to the rest of the United States. The average 2 bedroom rent in Rochester is $1,100. This figure is nearly $330 less than the US average of $1,430 per month for similar units. Additionally, the cost of groceries in Rochester is 101 on the index versus 100 in other parts of the country—meaning local shoppers get more bang for their buck. Organizations such as RENTCafé provide assistance to individuals seeking low income housing in Rochester; projects like The Reserve at Silver Creek offer reasonably priced apartments with amenities like a community lounge and an outdoor pool. Ultimately, Rochester's expense profile makes it an attractive option for budget-conscious consumers seeking high quality housing options.
Rochester (zip 55906) has an unemployment rate of 3.6%. The US average is 6.0%.
Rochester (zip 55906) has seen the job market decrease by -0.9% 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 55906)
- The Sales Tax Rate for Rochester (zip 55906) is 8.1%. The US average is 7.3%.
- The Income Tax Rate for Rochester (zip 55906) 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 55906)
- The average income of a Rochester (zip 55906) resident is $50,808 a year. The US average is $37,638 a year.
- The Median household income of a Rochester (zip 55906) resident is $96,403 a year. The US average is $69,021 a year.