Otero, NM County is a great place to live for those looking for a more affordable lifestyle. Rent in the county is significantly cheaper than the US average - with two bedroom rents being around $800, compared to $1,430 in the US. Similarly, grocery costs are less expensive too; with an index of 92 when compared to 100 in the US. There are many local businesses that stand out in Otero county including agricultural companies such as Gray Farms and Sierra Pecan Co., metal fabrication services like International Metal Works and agricultural suppliers like New Mexico Cotton Co. These local businesses help keep cost of living lower than other parts of the country by providing employment opportunities and keeping prices competitive.
Otero County has an unemployment rate of 7.4%. The US average is 6.0%.
Otero County has seen the job market decrease by -0.9% over the last year. Future job growth over the next ten years is predicted to be 22.7%, which is lower than the US average of 33.5%.
Tax Rates for Otero County
- The Sales Tax Rate for Otero County is 7.6%. The US average is 7.3%.
- The Income Tax Rate for Otero County is 4.9%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Otero County
- The average income of a Otero County resident is $23,792 a year. The US average is $37,638 a year.
- The Median household income of a Otero County resident is $46,949 a year. The US average is $69,021 a year.