Farmington township (Lake Cnty) in South Dakota is an ideal place to live for those who are looking for more affordable housing. The average rent for a two bedroom apartment is only $820, which is significantly lower than the US average of $1,430. Additionally, the grocery cost index in Farmington township (Lake Cnty) is 99 compared to 100 in the US. This means groceries are slightly cheaper here than in other areas of the United States. \nResidents of Farmington township (Lake Cnty) have access to a variety of local businesses including B&B Grocery Store, J&N Clothing and Furniture Store, and Main Street Hardware Store. Those interested in exploring outdoor activities can enjoy nearby Gudmundson Park or visit Lake Peltier which has plenty of fishing spots and biking trails. An interesting fact about Farmington township (Lake Cnty) is that it was founded in 1883 and named after its closest larger town at that time-Farmington City in Minnesota.
Farmington township (Lake County) has an unemployment rate of 3.0%. The US average is 6.0%.
Farmington township (Lake County) has seen the job market decrease by -2.8% over the last year. Future job growth over the next ten years is predicted to be 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Farmington township (Lake County)
- The Sales Tax Rate for Farmington township (Lake County) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Farmington township (Lake County) 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 Farmington township (Lake County)
- The average income of a Farmington township (Lake County) resident is $38,532 a year. The US average is $37,638 a year.
- The Median household income of a Farmington township (Lake County) resident is $93,750 a year. The US average is $69,021 a year.