Philip, SD is a small town located in the Midwest region of the United States. It is known for its welcoming community and has some great local businesses such as Philip Grocery, Fisk Equipment & Repair, and Ron's Tire Shop. The cost of living in Philip is quite low with rent for a two-bedroom being only $900 compared to the national average of $1430. Groceries are also much cheaper as evidenced by the index rating of 96 compared to the US rate of 100. Living in Philip gives you access to a wide range of amenities at an affordable price.
Philip has an unemployment rate of 2.7%. The US average is 6.0%.
Philip 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 22.6%, which is lower than the US average of 33.5%.
Tax Rates for Philip
- The Sales Tax Rate for Philip is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Philip 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 Philip
- The average income of a Philip resident is $22,339 a year. The US average is $28,555 a year.
- The Median household income of a Philip resident is $34,917 a year. The US average is $69,021 a year.