Letcher, SD is a small rural town located in the heart of South Dakota, with a population of 57359 people. It is known for its low cost of living and affordability. The average 2 bedroom rent in Letcher is $790, significantly lower than the current US average of $1430. The Grocery Cost Index in Letcher is 97 versus 100 in the US, making it an ideal place for people to save money on food costs. \nThe local economy consists mostly of small businesses such as Conklin's Corner Store, who provide groceries, snacks, beverages and household items; Laub Auto Parts providing automotive parts and repair services; and Connor's Construction offering construction and contracting services. There are also several local restaurants like Mac's Cafe & Grill serving mouthwatering home-cooked meals that locals love. All these companies provide employment opportunities to the residents of Letcher, SD and contribute to the economic growth of the area.
Letcher (zip 57359) has an unemployment rate of 3.3%. The US average is 6.0%.
Letcher (zip 57359) has seen the job market decrease by -1.3% over the last year. Future job growth over the next ten years is predicted to be 11.4%, which is lower than the US average of 33.5%.
Tax Rates for Letcher (zip 57359)
- The Sales Tax Rate for Letcher (zip 57359) is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Letcher (zip 57359) 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 Letcher (zip 57359)
- The average income of a Letcher (zip 57359) resident is $31,209 a year. The US average is $28,555 a year.
- The Median household income of a Letcher (zip 57359) resident is $61,346 a year. The US average is $69,021 a year.