Red Iron Lake, SD is a small town located in the Midwest region of the United States. It is home to a variety of locally owned businesses such as 'Big Bob's Bakery', 'Smiths Produce & Grocery', and 'The Red Iron Inn'. The cost of living in Red Iron Lake, SD is affordable. Rent for a two bedroom apartment averages around $830 per month compared to the US average of $1,430 per month. Groceries are also relatively cheap with an index score of 99 compared to 100 nationwide. All these factors make Red Iron Lake, SD an attractive place to live for those looking for a lower cost of living without sacrificing the convenience and comfort of city life.
Red Iron Lake has an unemployment rate of 4.4%. The US average is 6.0%.
Red Iron Lake 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 12.9%, which is lower than the US average of 33.5%.
Tax Rates for Red Iron Lake
- The Sales Tax Rate for Red Iron Lake is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Red Iron 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 Red Iron Lake
- The average income of a Red Iron Lake resident is $7,843 a year. The US average is $28,555 a year.
- The Median household income of a Red Iron Lake resident is $104,028 a year. The US average is $69,021 a year.