Sterling, South Dakota is a small town located in the northeast corner of the state. It has a population of only about 500 people, so it can offer an intimate atmosphere for its residents. It is known for its quaint downtown area, with shops offering local wares as well as locally-owned businesses like Sterling Mercantile & Supply Store and Sterling Market & Deli. Despite being a smaller town, Sterling offers amenities that compare favorably to larger cities. For example, the average two bedroom rent in Sterling is $860 compared to $1,430 in the US, which demonstrates that living costs are significantly lower than the national average. Additionally, the Grocery Cost Index in Sterling is equivalent to that of the US — 100 versus 100 — meaning that grocery prices are not inflated by location. Thus, Sterling is an affordable place to live while still providing excellent services and businesses.
Sterling has an unemployment rate of 3.1%. The US average is 6.0%.
Sterling has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 29.6%, which is lower than the US average of 33.5%.
Tax Rates for Sterling
- The Sales Tax Rate for Sterling is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Sterling 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 Sterling
- The average income of a Sterling resident is $19,048 a year. The US average is $28,555 a year.
- The Median household income of a Sterling resident is $56,250 a year. The US average is $69,021 a year.