Elmo, MN is a small town located within the state of Minnesota. It offers a variety of amenities for its residents, including a few local companies. Some of these include Elmo Outfitters, which provides outdoor apparel and gear, and Elmo Groceries which offers competitive prices on everyday items. Renting a two bedroom apartment in Elmo is more affordable than other US cities at $890 per month compared to the US average of $1,430. The grocery cost index in Elmo is also lower than the US average at 95 versus 100. Overall, Elmo provides its citizens with a comfortable place to live that includes numerous amenities and a competitive cost of living.
Elmo has an unemployment rate of 5.3%. The US average is 6.0%.
Elmo has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 34.5%, which is higher than the US average of 33.5%.
Tax Rates for Elmo
- The Sales Tax Rate for Elmo is 7.4%. The US average is 7.3%.
- The Income Tax Rate for Elmo 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 Elmo
- The average income of a Elmo resident is $27,282 a year. The US average is $37,638 a year.
- The Median household income of a Elmo resident is $67,750 a year. The US average is $69,021 a year.