Otter Tail, MN is a small town located in central Minnesota. It has a variety of local businesses that offer services to the community. Some of the notable companies include Otter Tail Power Company, Otter Tail Agronomy & Supply, and Otter Tail County Bank. The cost of living in Otter Tail is quite affordable, with 2 bedroom rent costing $860 compared to the US average at $1,430. Grocery costs are also relatively low as they have an index rating of 100. This means that the affordability rate in otter tail is nearly equal to that of the US average. In conclusion, Otter Tail offers a great place to live at a reasonable price for those looking for an affordable small town lifestyle.
Otter Tail has an unemployment rate of 5.3%. The US average is 6.0%.
Otter Tail has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Otter Tail
- The Sales Tax Rate for Otter Tail is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Otter Tail 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 Otter Tail
- The average income of a Otter Tail resident is $30,016 a year. The US average is $28,555 a year.
- The Median household income of a Otter Tail resident is $77,969 a year. The US average is $69,021 a year.