Lake Byron, SD is a small town located in Minnehaha County, South Dakota. It is known for its quaint atmosphere and rural charm. The cost of living here is lower than the national average, as shown by the 2-bedroom rent of $850 compared to the US average of $1,430. Additionally, the Grocery Cost Index (98) also indicates that groceries are much cheaper in Lake Byron than they are nationally (100).
Lake Byron is home to local businesses such as Johnson's Butcher Shop and Smith Hardware Store. Johnson's Butcher Shop offers a variety of cuts of quality meat along with fresh deli items at competitive prices. Smith Hardware Store provides everything from lawn care equipment to home improvement supplies. Both establishments have been serving the community for many years and offer excellent customer service.
Overall, Lake Byron provides a great quality of life with its affordable cost of living and charming atmosphere. Local businesses provide residents with a wide range of products and services while still maintaining an intimate small-town feel.
Lake Byron has an unemployment rate of 3.0%. The US average is 6.0%.
Lake Byron has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Lake Byron
- The Sales Tax Rate for Lake Byron is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Byron 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 Byron
- The average income of a Lake Byron resident is $22,619 a year. The US average is $28,555 a year.
- The Median household income of a Lake Byron resident is $74,432 a year. The US average is $69,021 a year.