Otsego, NY is an ideal place to live due to its affordability. Rent for a 2-bedroom apartment is significantly less than the national average of $1,430, coming in at only $910. Additionally, groceries are slightly cheaper when compared to the US index of 100 with Otsego’s Grocery Cost Index sitting at 105. Local companies in Otsego include the Chobani yogurt factory and a boutique distillery called Coppersea Distilling Co. Furthermore, many locally owned shops and restaurants add to the vibrant character of this small town.
Otsego has an unemployment rate of 6.3%. The US average is 6.0%.
Otsego has seen the job market increase by 0.0% over the last year. Future job growth over the next ten years is predicted to be 19.3%, which is lower than the US average of 33.5%.
Tax Rates for Otsego
- The Sales Tax Rate for Otsego is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Otsego is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Otsego
- The average income of a Otsego resident is $37,669 a year. The US average is $28,555 a year.
- The Median household income of a Otsego resident is $84,583 a year. The US average is $69,021 a year.