Medo, MN is a small rural town located in the Midwest United States. It offers its residents an affordable cost of living with a 2 bedroom rent of $910 compared to the US average of $1,430. The grocery cost index for Medo is also low at 96 compared to 100 in the US. Local companies that operate in Medo include Medo Industries, which specializes in metal fabrication and machining; Cropco, a family-owned seed and agri-chemicals company; and Lakeside Farms, which produces dairy products. Other businesses such as restaurants, retailers, and service providers are owned and operated by local entrepreneurs as well.
Living in Medo offers residents access to affordable housing, low taxes, good schools, friendly people, and plenty of recreational activities such as fishing lakes and hunting grounds. In addition to these amenities, there’s also easy access to nearby towns for shopping and cultural activities. With all these advantages combined with its low cost of living, it's easy to see why many people choose to call Medo home.
Medo has an unemployment rate of 3.9%. The US average is 6.0%.
Medo has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 37.2%, which is higher than the US average of 33.5%.
Tax Rates for Medo
- The Sales Tax Rate for Medo is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Medo 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 Medo
- The average income of a Medo resident is $26,494 a year. The US average is $28,555 a year.
- The Median household income of a Medo resident is $90,625 a year. The US average is $69,021 a year.