Watertown, South Dakota is a great place to settle down and enjoy an affordable lifestyle. It is known for its excellent educational institutions, such as the Lake Area Technical Institute and the Presentation College. It is also home to several major employers in the area, including Avera Health Care, Raven Industries, and Glacial Lakes Energy. Furthermore, it boasts many recreational activities including golfing at the Watertown Golf Club and camping at Richwood Park & Recreation Area. Watertown is a vibrant community with plenty of opportunities for socializing and entertainment. With its low cost of living and close proximity to larger cities such as Sioux Falls or Minneapolis, it is no wonder why people love to call Watertown home.
Watertown has an unemployment rate of 3.5%. The US average is 6.0%.
Watertown 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 25.8%, which is lower than the US average of 33.5%.
Tax Rates for Watertown
- The Sales Tax Rate for Watertown is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Watertown is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Watertown
- The average income of a Watertown resident is $25,185 a year. The US average is $28,555 a year.
- The Median household income of a Watertown resident is $56,520 a year. The US average is $69,021 a year.