Arco, MN is a small town with an affordable cost of living. The median rent for a two-bedroom apartment in Arco is $750, which is much lower than the US average of $1,430. Groceries are also cheaper in Arco, as the grocery cost index is 93 compared to 100 in the US. This makes Arco an ideal location for those wanting to save money. There are many companies located in Arco which contribute to its economy, including P & M Trucking Inc., Scandia Valley Farms LLC, and Browns Valley Lumber Co.
Arco has an unemployment rate of 5.7%. The US average is 6.0%.
Arco has seen the job market increase by 0.4% over the last year. Future job growth over the next ten years is predicted to be 22.3%, which is lower than the US average of 33.5%.
Tax Rates for Arco
- The Sales Tax Rate for Arco is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Arco 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 Arco
- The average income of a Arco resident is $18,826 a year. The US average is $28,555 a year.
- The Median household income of a Arco resident is $56,346 a year. The US average is $69,021 a year.