Grand Rapids, MN (55744) is a small town in north-central Minnesota with an approximate population of 10,717. The average 2 Bedroom rent in Grand Rapids is $940, which is significantly lower than the national average of $1,430. This makes Grand Rapids an affordable area to live in and allows residents to save more money for other expenses. A few local companies that bring employment opportunities to Grand Rapids are Blandin Paper Company, NorTech Custom Coating Inc., Magni Telescopic Handlers Inc., and Weyerhaeuser Company. The Grocery Cost Index rate compared to the US index is 98. All these factors make Grand Rapids an attractive place to live in due to its affordable cost of living.
Grand Rapids (zip 55744) has an unemployment rate of 6.2%. The US average is 6.0%.
Grand Rapids (zip 55744) 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 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Grand Rapids (zip 55744)
- The Sales Tax Rate for Grand Rapids (zip 55744) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Grand Rapids (zip 55744) is 7.1%. The US average is 4.6%.
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Income and Salaries for Grand Rapids (zip 55744)
- The average income of a Grand Rapids (zip 55744) resident is $33,465 a year. The US average is $37,638 a year.
- The Median household income of a Grand Rapids (zip 55744) resident is $60,330 a year. The US average is $69,021 a year.