South Dakota is a beautiful state located in the Midwestern United States. It has a population of 884,659 people and is known for its wide open spaces and unique landscapes. South Dakota's economy is diverse and includes industries such as agriculture, manufacturing, tourism, and finance. Some well-known companies based in the state are Black Hills Corporation, POET Biorefining, Daktronics, Raven Industries, and SDN Communications. South Dakota also offers a great variety of attractions for visitors to explore including Mount Rushmore National Memorial which features the sculptures of four presidents carved into a mountain face; Badlands National Park with its rugged terrain and colorful rock formations; Custer State Park where visitors can spot bison herds; and Crazy Horse Memorial honoring the culture of Native Americans. Additionally, the cost of living in South Dakota is relatively low with median rent for a two bedroom apartment amounting to $910 compared to $1,430 nationally. The Grocery Cost Index for South Dakota is 97 compared to 100 nationwide.
South Dakota has an unemployment rate of 3.3%. The US average is 6.0%.
South Dakota has seen the job market increase by 1.2% over the last year. Future job growth over the next ten years is predicted to be 29.8%, which is lower than the US average of 33.5%.
Tax Rates for South Dakota
- The Sales Tax Rate for South Dakota is 6.0%. The US average is 7.3%.
- The Income Tax Rate for South Dakota 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 South Dakota
- The average income of a South Dakota resident is $26,311 a year. The US average is $28,555 a year.
- The Median household income of a South Dakota resident is $63,920 a year. The US average is $69,021 a year.