Hot Springs, South Dakota is a small town located in Fall River County in the southwestern corner of the state. With a population of just 5,770 people, Hot Springs is known for its scenic beauty and recreational opportunities. Hot Springs has an affordable cost of living compared to other parts of the US; two bedroom rent averages $990 per month while grocery costs index at 99 which is only one point lower than the US average.
The local economy is bolstered by several businesses including Black Hills Energy, Fall River County Memorial Hospital, Hot Springs School District and HSHS St. Mary's Health Care Center. Additionally, there are many outdoor activities such as camping, fishing, golfing as well as the Evans Plunge Mineral Springs Pool and Spa where visitors can relax with therapeutic pools fed with nearby hot springs.
Hot Springs (zip 57747) has an unemployment rate of 4.4%. The US average is 6.0%.
Hot Springs (zip 57747) 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 27.7%, which is lower than the US average of 33.5%.
Tax Rates for Hot Springs (zip 57747)
- The Sales Tax Rate for Hot Springs (zip 57747) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Hot Springs (zip 57747) 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 Hot Springs (zip 57747)
- The average income of a Hot Springs (zip 57747) resident is $26,100 a year. The US average is $28,555 a year.
- The Median household income of a Hot Springs (zip 57747) resident is $53,477 a year. The US average is $69,021 a year.