Chancellor, SD is a small town located in Moody County with a population of around 100 people. Rent for a two-bedroom property is more affordable than the national average, making it an attractive place to move for those looking for an affordable living option. The grocery cost index is also lower than the US average. The local economy is mainly driven by agriculture and retail businesses such as supermarkets, restaurants, convenience stores, and hardware stores. There are also several small companies that offer services such as auto repair shops, landscaping and gardening services, construction companies, and painting services that can be found throughout Chancellor. With its proximity to larger cities such as Sioux Falls and Watertown, there are ample opportunities in Chancellor for new business owners who want to take advantage of the low costs of living in this rural area.
Chancellor has an unemployment rate of 2.8%. The US average is 6.0%.
Chancellor has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 30.1%, which is lower than the US average of 33.5%.
Tax Rates for Chancellor
- The Sales Tax Rate for Chancellor is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Chancellor 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 Chancellor
- The average income of a Chancellor resident is $24,223 a year. The US average is $28,555 a year.
- The Median household income of a Chancellor resident is $60,313 a year. The US average is $69,021 a year.