Faulkton, SD is an agricultural town located in the state of South Dakota. The cost of living here is quite low compared to other areas as rent for a two bedroom is only $830, while the US average is $1,430. Furthermore, the Grocery Cost Index in Faulkton, SD is 97 versus 100 in the US. It’s a great place to live if you’re looking for affordability. Local companies include Faulkton Hardware & Supply Co., Faulkton Medical Clinic, and Brown Brothers Trucking. These businesses employ many of the locals and drive a lot of economic growth in this small town.
Faulkton has an unemployment rate of 2.2%. The US average is 6.0%.
Faulkton has seen the job market decrease by -1.7% over the last year. Future job growth over the next ten years is predicted to be 22.2%, which is lower than the US average of 33.5%.
Tax Rates for Faulkton
- The Sales Tax Rate for Faulkton is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Faulkton 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 Faulkton
- The average income of a Faulkton resident is $27,705 a year. The US average is $37,638 a year.
- The Median household income of a Faulkton resident is $54,615 a year. The US average is $69,021 a year.