Richfield, Minnesota is a city in Hennepin County with a population of roughly 35,000. Richfield is known for its iconic Cedar Avenue bridge, an Art Deco style bridge that spans across the Mississippi River. The cost of rent for a two bedroom apartment in Richfield is $1,390 while the US average is $1,430. Compared to the national grocery cost index of 100, Richfield has an index of 101 making groceries slightly more expensive than the national average. Popular businesses located in Richfield include Target Corporation Headquarters, Best Buy Headquarters and Mall of America. Additionally, High Tech Companies such as Seagate Technologies and Optum call Richfield home. There are also plenty of local restaurants and cafes to choose from including Pig & Fiddle Pub & Kitchen and Noodles & Company.
Richfield (zip 55423) has an unemployment rate of 4.3%. The US average is 6.0%.
Richfield (zip 55423) 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 33.8%, which is higher than the US average of 33.5%.
Tax Rates for Richfield (zip 55423)
- The Sales Tax Rate for Richfield (zip 55423) is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Richfield (zip 55423) 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 Richfield (zip 55423)
- The average income of a Richfield (zip 55423) resident is $39,985 a year. The US average is $37,638 a year.
- The Median household income of a Richfield (zip 55423) resident is $74,415 a year. The US average is $69,021 a year.