Spencer, SD is a small city with a population of around 2,500 people. It is located in northwest South Dakota and offers many amenities to its residents. The cost of living in Spencer is quite affordable compared to the US average, with two bedroom rent being around $830 per month versus $1,430 across the US. Grocery costs are also low in Spencer with an index rating of 97 versus 100 for the US. Local businesses in Spencer include Walmart, Hy-Vee Grocery Store, and Dairy Queen among others. Spencer is a great place to live for those looking for an affordable lifestyle without compromising on quality amenities.
Spencer has an unemployment rate of 2.9%. The US average is 6.0%.
Spencer has seen the job market increase by 1.1% over the last year. Future job growth over the next ten years is predicted to be 29.1%, which is lower than the US average of 33.5%.
Tax Rates for Spencer
- The Sales Tax Rate for Spencer is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Spencer 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 Spencer
- The average income of a Spencer resident is $15,985 a year. The US average is $28,555 a year.
- The Median household income of a Spencer resident is $52,188 a year. The US average is $69,021 a year.