Montpelier, South Dakota is a small town nestled in the hills of the state. With a population of just over 2,000 people, it is a safe and inviting place to call home. Rent for a two-bedroom apartment in Montpelier is much lower than the national average, coming in at $840 compared to the US average of $1,430. Additionally, grocery costs index in Montpelier is slightly lower than the rest of the US at 98 versus 100.
In terms of local industry, Montpelier has a thriving agricultural sector and hosts multiple businesses including a grocery store, post office, several restaurants and cafes as well as hardware stores and garages. People looking to move to this wonderful little town often cite its great sense of community and friendly atmosphere as reasons for wanting to relocate there. With low rent costs and everyday amenities nearby, Montpellier could be an attractive option for those looking for a slower-paced lifestyle away from the hustle and bustle of bigger cities.
Montpelier has an unemployment rate of 2.8%. The US average is 6.0%.
Montpelier has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 17.1%, which is lower than the US average of 33.5%.
Tax Rates for Montpelier
- The Sales Tax Rate for Montpelier is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Montpelier 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 Montpelier
- The average income of a Montpelier resident is $27,704 a year. The US average is $28,555 a year.
- The Median household income of a Montpelier resident is $74,000 a year. The US average is $69,021 a year.