The small rural town of Russell, Minnesota (Zip Code 56169) is a great place to live if you're looking for an affordable place to set up home. The average 2 Bedroom rent in Russell is $820, which is significantly lower than the US average of $1,430. Additionally, the Grocery Cost Index in Russell is 94 versus the 100 in the US. This means that groceries are slightly cheaper than in other areas of the country.
Although it may be a small town, Russell boasts some great options for local businesses. There are several popular restaurants such as K & C Family Restaurant and Grandma Mabel's Kitchen as well as a variety of retail stores like Hart's Store and G-Mart Pharmacy. Its convenient location near larger cities such as Minneapolis also make it easy to access amenities outside of Russell.
Overall, with its low cost of living index combined with easy access to big city amenities, Russell is an excellent choice for those seeking affordable living with plenty of options and activities nearby.
Russell (zip 56169) has an unemployment rate of 4.2%. The US average is 6.0%.
Russell (zip 56169) has seen the job market decrease by -2.4% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Russell (zip 56169)
- The Sales Tax Rate for Russell (zip 56169) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Russell (zip 56169) 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 Russell (zip 56169)
- The average income of a Russell (zip 56169) resident is $36,353 a year. The US average is $37,638 a year.
- The Median household income of a Russell (zip 56169) resident is $73,750 a year. The US average is $69,021 a year.