Watson, Minnesota is a small city located in the southwest corner of the state. With a population of only 562 people, this rural town offers its residents plenty of peace and quiet. The average two bedroom rental cost here is $740 per month, significantly lower than the US average of $1,430. Living costs are also lower here, as the Grocery Cost Index in Watson is 91 versus 100 in the US.
The main employers in Watson are agricultural businesses such as farms and ranches. Other local companies include Watson Trucking Inc., Watson Convenience Store, and Dan's Dairy Farm. For those looking for fun activities to do on their days off, there's plenty to explore nearby including parks, trails, and camping sites.
Watson (zip 56295) has an unemployment rate of 4.4%. The US average is 6.0%.
Watson (zip 56295) has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 24.4%, which is lower than the US average of 33.5%.
Tax Rates for Watson (zip 56295)
- The Sales Tax Rate for Watson (zip 56295) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Watson (zip 56295) 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 Watson (zip 56295)
- The average income of a Watson (zip 56295) resident is $24,858 a year. The US average is $28,555 a year.
- The Median household income of a Watson (zip 56295) resident is $55,000 a year. The US average is $69,021 a year.