Morristown, South Dakota is a small town with an estimated population of 692 people. It is known for its affordable rental costs and low cost of living. Renting a two bedroom apartment in Morristown can cost as little as $730 per month which is significantly lower than the national average of $1,430 for the same type of accommodation. Groceries are also reasonably priced with a grocery cost index of 93 compared to the US at 100.
The city is home to well-known companies such as SDC Inc., Ag Partners, and JAKS Construction & Repair Services, all of which provide quality services to their customers and employment opportunities to local residents. Morristown also has beautiful scenery with plenty of outdoor recreational activities such as hiking trails, bike paths, fishing lakes, and more that make it a lovely place to live or visit. With its affordable housing prices and low cost of living combined with its variety of activities and businesses, Morristown is an attractive destination for people looking for a peaceful place to call home.
Morristown has an unemployment rate of 3.5%. The US average is 6.0%.
Morristown 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 12.7%, which is lower than the US average of 33.5%.
Tax Rates for Morristown
- The Sales Tax Rate for Morristown is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Morristown 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 Morristown
- The average income of a Morristown resident is $27,276 a year. The US average is $28,555 a year.
- The Median household income of a Morristown resident is $40,313 a year. The US average is $69,021 a year.