Hot Springs, South Dakota is a small city known for its rich history. It is home to several local businesses such as Hot Springs Furniture, Black Hills Energy, and Clem's Hot Springs. The cost of living in Hot Springs is significantly lower than the US average, with 2 bedroom rent averaging $1,040 compared to $1,430 in the US. Grocery costs are also much cheaper in Hot Springs at an index of 99 versus 100 in the US. This makes it an ideal location for those looking for affordable living and easy access to essential services.
Hot Springs has an unemployment rate of 4.4%. The US average is 6.0%.
Hot Springs has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 27.7%, which is lower than the US average of 33.5%.
Tax Rates for Hot Springs
- The Sales Tax Rate for Hot Springs is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Hot Springs 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 Hot Springs
- The average income of a Hot Springs resident is $24,023 a year. The US average is $28,555 a year.
- The Median household income of a Hot Springs resident is $44,167 a year. The US average is $69,021 a year.