Lockwood, SD is a small town with a population of around 800 people. It's located in the southeastern part of South Dakota and offers a peaceful rural lifestyle. The cost of living in Lockwood is relatively low compared to other parts of the country, with two-bedroom rent averaging $820 per month and the local grocery cost index being 98 compared to 100 throughout the US. Despite its size, there are plenty of local businesses and amenities for residents to enjoy. Some of these include Small Town Café for breakfast, Papa Bear's Pizza for lunch or dinner, and Lockwood Grocery for all your grocery needs. For entertainment, locals can visit Mojo’s Bar & Grill or watch a movie at Munson Theatre. Lockwood also has great outdoor areas such as Lake Oahe and Shadehill Recreation Area for fishing, camping, and bird watching.
Lockwood has an unemployment rate of 5.5%. The US average is 6.0%.
Lockwood has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Lockwood
- The Sales Tax Rate for Lockwood is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Lockwood 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 Lockwood
- The average income of a Lockwood resident is $32,217 a year. The US average is $28,555 a year.
- The Median household income of a Lockwood resident is $71,528 a year. The US average is $69,021 a year.