Spring Grove, MN (ZIP code 55974) is a small city located in the southeastern corner of Minnesota. Home to just over 1,000 people, Spring Grove is known for its strong sense of community and close-knit neighborhoods. This friendly atmosphere has attracted many businesses to the area in recent years, including the Spring Grove Family Restaurant and Café, KountryKorner Grocery Store, and a variety of antique shops.
In terms of the economy, 2 bedroom apartments in Spring Grove cost an average of $900 per month while the US as a whole has an average rent price of $1,430. Additionally, the Grocery Cost Index here is 94 compared to 100 in the US on average. These figures show that Spring Grove's cost of living is much lower than most other places in the country.
Spring Grove (zip 55974) has an unemployment rate of 4.4%. The US average is 6.0%.
Spring Grove (zip 55974) has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 32.6%, which is lower than the US average of 33.5%.
Tax Rates for Spring Grove (zip 55974)
- The Sales Tax Rate for Spring Grove (zip 55974) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Spring Grove (zip 55974) 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 Spring Grove (zip 55974)
- The average income of a Spring Grove (zip 55974) resident is $29,112 a year. The US average is $37,638 a year.
- The Median household income of a Spring Grove (zip 55974) resident is $54,338 a year. The US average is $69,021 a year.