Cambridge, Minnesota (Zip code 55008) is a city with a population of 8,711. This small city has an affordable two-bedroom rent price at $1,270 per month compared to the national average of $1,430. Groceries are also more inexpensive here as the grocery cost index is 99 versus 100 in the US.
This city provides plenty of employment opportunities for locals and those looking to relocate. Some notable employers include Little Farm on the Prairie Inc., Rotochopper Inc., Gopher Resource Corporation, and Cambridge Co-op Creamery.
In addition to its job opportunities, there’s also plenty of places to explore in Cambridge such as Bunker Hills Regional Park which offers swimming beaches and trails for hiking and biking. Other local attractions include Milaca Community Center where visitors can enjoy sports and fitness activities or take part in educational programs for all ages. The downtown area is also home to several quaint shops and restaurants perfect for a day out with friends or family.
Cambridge (zip 55008) has an unemployment rate of 6.2%. The US average is 6.0%.
Cambridge (zip 55008) has seen the job market decrease by -3.6% over the last year. Future job growth over the next ten years is predicted to be 36.2%, which is higher than the US average of 33.5%.
Tax Rates for Cambridge (zip 55008)
- The Sales Tax Rate for Cambridge (zip 55008) is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Cambridge (zip 55008) 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 Cambridge (zip 55008)
- The average income of a Cambridge (zip 55008) resident is $35,494 a year. The US average is $37,638 a year.
- The Median household income of a Cambridge (zip 55008) resident is $76,133 a year. The US average is $69,021 a year.