Phipps, SD is a small town with a population of about 8,000 people. Despite its size, Phipps is an affordable place to live with rent for a two-bedroom apartment costing $900 per month. This is much lower than the national average of $1,430 for a two-bedroom apartment. Additionally, the city has a very competitive grocery cost index rating of 98 compared to the US average of 100.
Phipps is home to many local businesses, such as Go Fruit Farm and Floral Shop, Farrell's Grocery Store, The Waterfront Bar & Grill, and LeMay Taxidermy & Hunting Service. There are also locally owned banks like the Phipps Savings Bank and credit unions like Dakota Credit Union. Many other small businesses contribute to the local economy and help make Phipps a thriving community!
Phipps has an unemployment rate of 3.5%. The US average is 6.0%.
Phipps 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 Phipps
- The Sales Tax Rate for Phipps is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Phipps 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 Phipps
- The average income of a Phipps resident is $29,184 a year. The US average is $28,555 a year.
- The Median household income of a Phipps resident is $112,857 a year. The US average is $69,021 a year.