Chokio, MN is small town in Minnesota with a population of approximately 650. Despite its size, Chokio has a variety of businesses and services to offer residents and visitors alike. Companies in the area include K&S Repair Shop, Agro-Lawn Care & Landscaping Service, and Chokio Hardware Store.
The cost of living in Chokio is significantly lower than the US as a whole; for example, 2 bedroom rent in Chokio averages at $820 while it costs $1,430 nationally. Additionally, the grocery cost index in Chokio is 93 versus 100 in the US. This makes living in this small town an attractive option for many individuals looking to save money without sacrificing quality of life.
Chokio has an unemployment rate of 3.8%. The US average is 6.0%.
Chokio has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 20.4%, which is lower than the US average of 33.5%.
Tax Rates for Chokio
- The Sales Tax Rate for Chokio is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Chokio 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 Chokio
- The average income of a Chokio resident is $31,965 a year. The US average is $37,638 a year.
- The Median household income of a Chokio resident is $48,542 a year. The US average is $69,021 a year.