Elco, Pennsylvania is a small town located in Lancaster County. It is a great place for families and young professionals looking for a peaceful lifestyle. The town features plenty of local companies such as Elco Manufacturing Company and Elco Tool & Machine. The 2 bedroom rent in the area is quite affordable at $850 per month, which is much lower than the US average of $1,430 per month. Similarly, grocery costs are also lower than the US average with index 95 compared to 100 in the US. Therefore, living in Elco can be more affordable than other parts of the country.
Elco has an unemployment rate of 7.9%. The US average is 6.0%.
Elco has seen the job market decrease by -7.0% over the last year. Future job growth over the next ten years is predicted to be 24.4%, which is lower than the US average of 33.5%.
Tax Rates for Elco
- The Sales Tax Rate for Elco is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Elco is 4.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Elco
- The average income of a Elco resident is $22,547 a year. The US average is $37,638 a year.
- The Median household income of a Elco resident is $40,417 a year. The US average is $69,021 a year.