Plato, MN is a small rural town located in Minnesota. It has a population of around 800 people, making it an ideal place for those looking for a quiet and peaceful life. The cost of living in Plato is very reasonable compared to other places in Minnesota and the US as a whole; the 2 bedroom rent in Plato is $820, which is significantly less than the US average of $1430. Moreover, the Grocery Cost Index in Plato is 100 - the same as the US average.
Plato may be small but it offers plenty to local businesses. In addition to being home to two restaurants – B & P’s Country Kitchen and Prairie Sports Bar & Grill – there are shops such as Ace Hardware, Earl’s Ag & Auto Parts, and Mankato Interiors that offer a variety of goods and services. All these businesses make it easy for locals to find everything they need without leaving Plato.
In summary, Plato is an affordable place to live with plenty of local businesses offering quality products and services at reasonable prices. If you’re looking for a small town with low cost of living while still having access to all necessary amenities, then Plato could be the right fit for you!
Plato has an unemployment rate of 5.1%. The US average is 6.0%.
Plato has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 19.8%, which is lower than the US average of 33.5%.
Tax Rates for Plato
- The Sales Tax Rate for Plato is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Plato 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 Plato
- The average income of a Plato resident is $29,673 a year. The US average is $28,555 a year.
- The Median household income of a Plato resident is $68,750 a year. The US average is $69,021 a year.