Palo, IA is a small town situated in Linn County. It offers affordable living costs including a two bedroom rental rate of $1250 compared to the nationwide average of $1430. Additionally, grocery costs remain fairly consistent with the national index at 100 versus 100 in the US. Palo, IA is home to several local companies and services such as Pfizer Inc., Kinseth Hospitality Corporation, and Walmart Distribution Center. Additionally, there are some great fitness centers and schools in town, like the TK Crossfit & Equestrian Center and Palo Community School District. With its low-cost living options combined with plenty of local services, Palo makes an ideal location for those looking for a place to settle down.
Palo has an unemployment rate of 5.3%. The US average is 6.0%.
Palo has seen the job market decrease by -7.6% over the last year. Future job growth over the next ten years is predicted to be 25.9%, which is lower than the US average of 33.5%.
Tax Rates for Palo
- The Sales Tax Rate for Palo is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Palo 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 Palo
- The average income of a Palo resident is $39,890 a year. The US average is $37,638 a year.
- The Median household income of a Palo resident is $86,786 a year. The US average is $69,021 a year.