Amherst, MN is a small town in Minnesota with great amenities. It is known for its low cost of living, with rent for two bedrooms being only $840 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Amherst is 97 versus 100 in the US. There are numerous local businesses located in Amherst such as the Mill Street Coffee House, J's Meat Market & Produce, and Danielson Automotive Services, just to name a few. With both low rental costs and grocery prices as well as plenty of local businesses to choose from, Amherst provides a great place to live at an affordable rate.
Amherst has an unemployment rate of 4.7%. The US average is 6.0%.
Amherst has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 29.3%, which is lower than the US average of 33.5%.
Tax Rates for Amherst
- The Sales Tax Rate for Amherst is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Amherst is 7.1%. The US average is 4.6%.
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Income and Salaries for Amherst
- The average income of a Amherst resident is $29,858 a year. The US average is $37,638 a year.
- The Median household income of a Amherst resident is $76,250 a year. The US average is $69,021 a year.