Arbo, MN is a small city located in Minnesota. With a population of just under 4,000 residents, it is an affordable place to live. The average cost of renting a two bedroom apartment in Arbo is $980, making it significantly cheaper than the national average of $1,430. Meanwhile, groceries are also much cheaper in Arbo compared to the rest of the country, with an index score of 98 compared to 100 nationally. This makes Arbo an attractive option for those who are looking for an affordable place to live.
The city has a number of companies based in it such as Arrow Electric Inc., Metro Automotive Tire Pros & Brake Service and Arbo Auto Repair. These businesses contribute greatly to the local economy and possibly help keep rental costs down. Overall, living in Arbo can be very affordable due to its low rent prices and lower-than-average grocery costs.
Arbo has an unemployment rate of 6.2%. The US average is 6.0%.
Arbo has seen the job market increase by 2.3% over the last year. Future job growth over the next ten years is predicted to be 20.5%, which is lower than the US average of 33.5%.
Tax Rates for Arbo
- The Sales Tax Rate for Arbo is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Arbo 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 Arbo
- The average income of a Arbo resident is $26,710 a year. The US average is $28,555 a year.
- The Median household income of a Arbo resident is $60,875 a year. The US average is $69,021 a year.