Herman, SD is a small rural town located in the eastern part of the state. It is known for its affordable cost of living that includes 2 bedroom rent for $820 and a grocery cost index at 100. Local companies in Herman, SD include the Herman Grocery Store, The Country Kitchen diner, and the Herman Lumber Company. These businesses are integral to the local economy and provide employment opportunities for many local residents.
Herman has an unemployment rate of 3.0%. The US average is 6.0%.
Herman has seen the job market increase by 2.6% 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 Herman
- The Sales Tax Rate for Herman is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Herman 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 Herman
- The average income of a Herman resident is $34,266 a year. The US average is $28,555 a year.
- The Median household income of a Herman resident is $86,048 a year. The US average is $69,021 a year.