Martin, SD is a small city in Moody County and part of the Sioux Falls metropolitan statistical area. It is known for its friendly and outgoing people, as well as its affordable cost of living. Compared to the national average, rent for 2 bedrooms in Martin is about $590 cheaper and the Grocery Cost Index is 4% lower than the US average. There are several local companies that call Martin home such as Natura Foods Inc, Dakota Provisions, Wolf Creek Farms, Great Plains Livestock Exchange, Sioux Valley Energy, and Martin Hutterite Colony. Living in Martin can be economically beneficial for anyone wanting to cut down costs while still enjoying all the city has to offer.
Martin has an unemployment rate of 4.0%. The US average is 6.0%.
Martin has seen the job market decrease by -1.6% over the last year. Future job growth over the next ten years is predicted to be 19.9%, which is lower than the US average of 33.5%.
Tax Rates for Martin
- The Sales Tax Rate for Martin is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Martin 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 Martin
- The average income of a Martin resident is $23,128 a year. The US average is $28,555 a year.
- The Median household income of a Martin resident is $43,980 a year. The US average is $69,021 a year.