Groton, South Dakota is a small town located in Brown County with a population of approximately 967 people. It is known for its outdoor activities such as hiking and skiing at the nearby Cormorant Lakes Recreation Area. The town has several locally owned businesses including Groton Lumber & Hardware, Groton Pharmacy, and D&D Pizza. The cost of living in Groton is quite low compared to the national average. Rent for a two bedroom apartment averages around $840 per month while the national average is $1,430 per month. Grocery costs are also very economical with an index score of 100 versus the US average of 100. Overall, Groton offers a low-cost living environment for families or individuals looking to relocate to this quaint area of South Dakota.
Groton has an unemployment rate of 3.0%. The US average is 6.0%.
Groton has seen the job market decrease by -2.2% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Groton
- The Sales Tax Rate for Groton is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Groton 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 Groton
- The average income of a Groton resident is $37,008 a year. The US average is $37,638 a year.
- The Median household income of a Groton resident is $75,909 a year. The US average is $69,021 a year.