Rainbow, SD is a small town with an affordable cost of living. The average 2 bedroom rent in Rainbow is $840 while the average for the US is $1,430. Grocery costs are also lower in Rainbow than in the US with an index of 92 vs 100. Local companies and services available in Rainbow include a library, several restaurants, retail stores and small businesses. The local hospital provides medical services to the community as well as other healthcare facilities such as pharmacies and specialty clinics. A few banks and churches can also be found in Rainbow providing financial assistance and spiritual guidance to residents. Rainbow is a great place to live due to its low cost of living and access to services.
Rainbow has an unemployment rate of 3.4%. The US average is 6.0%.
Rainbow has seen the job market decrease by -4.9% over the last year. Future job growth over the next ten years is predicted to be 21.9%, which is lower than the US average of 33.5%.
Tax Rates for Rainbow
- The Sales Tax Rate for Rainbow is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Rainbow 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 Rainbow
- The average income of a Rainbow resident is $23,793 a year. The US average is $28,555 a year.
- The Median household income of a Rainbow resident is $72,000 a year. The US average is $69,021 a year.