Elmo, MO is a small town with a population of approximately 4,500 people. It is situated in the northwest corner of Missouri and known for its abundant fishing opportunities and rolling hills. Living costs in Elmo are significantly lower than the US average, with 2 bedroom rent at $790 compared to the US average of $1,430. Grocery cost index in Elmo is 93 versus 100 in the US. A few of the local companies that contribute to Elmos economy are Hanson Logging Inc., Reynolds Farms LLC., and Ashland Upholstery Co. For those looking for an affordable place to live with plenty of recreational activities nearby, Elmo is an excellent choice.
Elmo has an unemployment rate of 2.9%. The US average is 6.0%.
Elmo has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 17.4%, which is lower than the US average of 33.5%.
Tax Rates for Elmo
- The Sales Tax Rate for Elmo is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Elmo is 5.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elmo
- The average income of a Elmo resident is $17,193 a year. The US average is $28,555 a year.
- The Median household income of a Elmo resident is $53,056 a year. The US average is $69,021 a year.