Menlo, IA is a small town with a population of just over 800 people. It has an affordable rent rate compared to the rest of the country, making it more attractive for those looking to move. The average 2 bedroom rent in Menlo is $890 whereas the national average for 2 bedrooms is $1,430. Additionally, the grocery cost index in Menlo is 93 compared to 100 in the US, making it an economical place for groceries too.
In addition to its affordability, Menlo has some great local businesses that make it a charming place to live or visit. There is Parkview Country Store where you can buy fresh produce and groceries or enjoy a delicious meal at the diner attached. There is also Pioneer Pub & Grill, which serves up classic American fare and ice cold beer. Other attractions include Izaak Walton League Park which has places to picnic and fish while you take in nature's beauty and Lake Ahquabi State Park which offers camping opportunities as well as fishing and boating activities.
Menlo has an unemployment rate of 4.4%. The US average is 6.0%.
Menlo has seen the job market increase by 1.3% over the last year. Future job growth over the next ten years is predicted to be 28.8%, which is lower than the US average of 33.5%.
Tax Rates for Menlo
- The Sales Tax Rate for Menlo is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Menlo 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 Menlo
- The average income of a Menlo resident is $18,255 a year. The US average is $28,555 a year.
- The Median household income of a Menlo resident is $70,446 a year. The US average is $69,021 a year.