Otis is a small rural town in Colorado with a population of 807 people. The median 2 bedroom rent in Otis is much lower than the national average, at $970 per month. This makes it an attractive area for those looking for affordable housing. The grocery cost index in Otis is 96 (versus 100 in the US), making groceries and other essential items relatively less expensive than elsewhere.
Otis has all the amenities of a modern city, even though it's small size. There are several notable businesses located within the city limits, including “Westman’s Garage,” an automotive repair shop; “John’s Grocery and Hardware Store,” which offers both food and supplies; and “The Otis Inn,” a local hotel and restaurant that provides guests with a unique experience of life in this rural part of Colorado.
Otis (zip 80743) has an unemployment rate of 3.2%. The US average is 6.0%.
Otis (zip 80743) has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 55.2%, which is higher than the US average of 33.5%.
Tax Rates for Otis (zip 80743)
- The Sales Tax Rate for Otis (zip 80743) is 4.4%. The US average is 7.3%.
- The Income Tax Rate for Otis (zip 80743) is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Otis (zip 80743)
- The average income of a Otis (zip 80743) resident is $28,402 a year. The US average is $37,638 a year.
- The Median household income of a Otis (zip 80743) resident is $60,586 a year. The US average is $69,021 a year.