Oto, IA is a small town in Iowa with an affordable cost of living. The two bedroom rent for the area is $820, compared to the national average of $1,430. Additionally, the Grocery Cost Index in Oto is 94 versus 100 in the US. There are many local businesses that make up Oto's economy such as Oto Junction Cafe, Oto Family Pharmacy and Oto Auto Parts Store & Repair Shop. These businesses provide essential services to the community of Oto and its surrounding areas.
Oto has an unemployment rate of 4.5%. The US average is 6.0%.
Oto has seen the job market decrease by -6.1% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Oto
- The Sales Tax Rate for Oto is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Oto is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oto
- The average income of a Oto resident is $17,277 a year. The US average is $37,638 a year.
- The Median household income of a Oto resident is $0 a year. The US average is $69,021 a year.