Oakwood, SD is a small town in the mid-west region of the United States. It is a great place to live due to its low rent and cost of living. The average two bedroom apartment rent in Oakwood is $840, which is significantly lower than the US average 2 Bedroom Rent of $1,430. Additionally, the Grocery Cost Index in Oakwood is 99 compared to 100 for the US as a whole. This makes Oakwood an attractive option for people looking for more affordable housing and grocery options.
The local economy in Oakwood consists of mostly small businesses that serve both tourists and residents alike. Popular companies include The Wilder Country Store & Gifts, Farmers Insurance Agency, Blake's Auto Repair, and Shawnee Creek Bakery. These businesses provide jobs and services to Oakwood locals while also giving visitors an opportunity to explore all that the town has to offer.
Oakwood has an unemployment rate of 3.1%. The US average is 6.0%.
Oakwood has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 29.6%, which is lower than the US average of 33.5%.
Tax Rates for Oakwood
- The Sales Tax Rate for Oakwood is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Oakwood 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 Oakwood
- The average income of a Oakwood resident is $26,366 a year. The US average is $28,555 a year.
- The Median household income of a Oakwood resident is $127,969 a year. The US average is $69,021 a year.