Timber Lake, SD is a small town in western South Dakota known for its rural beauty. Living costs are low compared to the rest of the country, with rent for a two bedroom apartment costing just $840 and a Grocery Cost Index of 93 compared to 100 for the US as a whole. The town also offers a number of local businesses such as Alta Farms, Timber Lake Hardware & Supply, and Lakeside Market. These businesses provide essential services and goods to residents as well as jobs that help drive the local economy.
Timber Lake has an unemployment rate of 4.2%. The US average is 6.0%.
Timber Lake 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 13.1%, which is lower than the US average of 33.5%.
Tax Rates for Timber Lake
- The Sales Tax Rate for Timber Lake is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Timber Lake 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 Timber Lake
- The average income of a Timber Lake resident is $24,221 a year. The US average is $37,638 a year.
- The Median household income of a Timber Lake resident is $51,250 a year. The US average is $69,021 a year.