Herman, MN (zip code 56248) is a small town located in Otter Tail County, Minnesota. It has an estimated population of only 600 people. The median rent for 2 bedroom homes in Herman is $840, which is significantly lower than the US average of $1430. Residents here are able to save money by living in Herman due to the lower cost of living – grocery costs index 93 vs 100 in the US – making it attractive to those who want to live close to nature without breaking their budget.
The local economy in Herman is supported by businesses such as the Herman Cafe, Lakeside Grocery & Gas Station, and John's Auto Repair. With a handful of other small businesses scattered throughout Herman’s streets, residents can easily find whatever they need right within town limits.
Herman (zip 56248) has an unemployment rate of 5.4%. The US average is 6.0%.
Herman (zip 56248) has seen the job market decrease by -0.1% over the last year. Future job growth over the next ten years is predicted to be 22.4%, which is lower than the US average of 33.5%.
Tax Rates for Herman (zip 56248)
- The Sales Tax Rate for Herman (zip 56248) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Herman (zip 56248) is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing ºÚÁÏÉçÇø.
Income and Salaries for Herman (zip 56248)
- The average income of a Herman (zip 56248) resident is $37,497 a year. The US average is $37,638 a year.
- The Median household income of a Herman (zip 56248) resident is $71,250 a year. The US average is $69,021 a year.