Wallace, SD is a small town located in South Dakota. It is home to many local businesses and services, including Wallace’s Brothers Grocery Store, the Wallace Veterinary Clinic, and the local hardware store. The cost of living in Wallace is relatively low compared to other places. For example, rent for a two-bedroom apartment is only $880 per month versus the US average of $1,430. In addition, the grocery cost index in Wallace is 96 compared to the US average of 100. This makes it much more affordable for locals to live there than in other cities around the country.
Wallace has an unemployment rate of 3.5%. The US average is 6.0%.
Wallace has seen the job market decrease by -2.6% over the last year. Future job growth over the next ten years is predicted to be 25.8%, which is lower than the US average of 33.5%.
Tax Rates for Wallace
- The Sales Tax Rate for Wallace is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Wallace 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 Wallace
- The average income of a Wallace resident is $18,216 a year. The US average is $37,638 a year.
- The Median household income of a Wallace resident is $53,750 a year. The US average is $69,021 a year.