Babbitt, Minnesota (55706) is a small city located in St. Louis County with a population of 982 inhabitants. The median two bedroom rental cost here is $890 per month, which is very affordable compared to the US average of $1,430. Residents also benefit from access to local businesses such as Country Exchange Variety Store, The Edge Bar & Grill, Lucky 7 Gas Station & Convenience Store, and Northwoods 2 Go. The cost of groceries is also low when compared to the rest of the country at 92 index points versus 100 for the US. All in all, Babbitt offers its residents an affordable cost of living that's still close enough to larger cities like Duluth and Hibbing that it remains convenient.
Babbitt (zip 55706) has an unemployment rate of 4.8%. The US average is 6.0%.
Babbitt (zip 55706) has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Babbitt (zip 55706)
- The Sales Tax Rate for Babbitt (zip 55706) is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Babbitt (zip 55706) is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing 黑料社区.
Income and Salaries for Babbitt (zip 55706)
- The average income of a Babbitt (zip 55706) resident is $30,276 a year. The US average is $37,638 a year.
- The Median household income of a Babbitt (zip 55706) resident is $46,850 a year. The US average is $69,021 a year.