Otto, MI is a small town located in rural Michigan. Despite its small size, it offers a lot for its residents. The average two-bedroom rental costs $860, which is significantly lower than the national average of $1,430. Additionally, the local grocery cost index is much lower than the US average at 90 versus 100. Residents of Otto can also take advantage of some great local businesses and services like Crossroads Creamery, Wild Winds Farm Market and C&D Automotive Repair to name a few. No matter your needs, Otto has you covered!
Otto has an unemployment rate of 8.0%. The US average is 6.0%.
Otto has seen the job market increase by 0.5% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Otto
- The Sales Tax Rate for Otto is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Otto is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Otto
- The average income of a Otto resident is $20,475 a year. The US average is $28,555 a year.
- The Median household income of a Otto resident is $62,159 a year. The US average is $69,021 a year.