The 2 bedroom rent in Minneapolis, MN (55419) is $1,490 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Minneapolis (105) is higher than the national average (100). These figures reflect a trend of increasing costs of living in Minneapolis. This city provides great local job opportunities with big name companies like Target, Best Buy, UnitedHealth Group, and Cargill. In addition to these major corporations, there are a variety of small businesses that contribute to the economic stability of the area including Watson’s Pharmacy & Soda Fountain, Minnesota Music Cafe, Brilliant Bicycle Company and more.
Minneapolis (zip 55419) has an unemployment rate of 4.5%. The US average is 6.0%.
Minneapolis (zip 55419) has seen the job market increase by 1.8% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Minneapolis (zip 55419)
- The Sales Tax Rate for Minneapolis (zip 55419) is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Minneapolis (zip 55419) 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 Minneapolis (zip 55419)
- The average income of a Minneapolis (zip 55419) resident is $50,112 a year. The US average is $28,555 a year.
- The Median household income of a Minneapolis (zip 55419) resident is $119,639 a year. The US average is $69,021 a year.