Lake Flat, SD is a small town located in the Midwest region of the United States. The town is known for its quaint downtown area and close-knit community atmosphere. Local businesses in Lake Flat include a grocery store, a few restaurants, and some small specialty shops. The cost of living in Lake Flat is quite low compared to many other parts of the country. Rent for a two bedroom apartment is only $850, while the national average is around $1,430. Additionally, the Grocery Cost Index in Lake Flat is 99 versus 100 nationally. This makes it an ideal place to live for those looking to stretch their budgets further than other areas.
Lake Flat has an unemployment rate of 3.4%. The US average is 6.0%.
Lake Flat has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Lake Flat
- The Sales Tax Rate for Lake Flat is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Flat 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 Lake Flat
- The average income of a Lake Flat resident is $20,868 a year. The US average is $37,638 a year.
- The Median household income of a Lake Flat resident is $0 a year. The US average is $69,021 a year.