47163 Otisco, IN is a small town located in Clark County with a population of approximately 685 people as of the 2019 census. With its low population comes an even lower cost of living. The average 2 bedroom rent for the area is $970 per month, much lower than the national average of $1,430. Similarly, the Grocery Cost Index for Otisco is 95 versus 100 for the US, making food and groceries significantly more affordable here.
The town is home to several local businesses such as B & S Farms Inc., The Red Brick Cafe & Catering Company, and Hula Cow Ice Cream and Treats. Each business brings a unique offering to the area; from farm fresh produce to delicious homemade treats. All these businesses provide great resources for residents of 47163 Otisco, IN while contributing to a cost-effective lifestyle in this charming little town.
Otisco (zip 47163) has an unemployment rate of 4.4%. The US average is 6.0%.
Otisco (zip 47163) has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 36.3%, which is higher than the US average of 33.5%.
Tax Rates for Otisco (zip 47163)
- The Sales Tax Rate for Otisco (zip 47163) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Otisco (zip 47163) is 5.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Otisco (zip 47163)
- The average income of a Otisco (zip 47163) resident is $25,054 a year. The US average is $28,555 a year.
- The Median household income of a Otisco (zip 47163) resident is $47,401 a year. The US average is $69,021 a year.