Okaton, South Dakota is a small rural town in Jackson County with an estimated population of 57 people. The median 2 bedroom rent price in Okaton is $850, lower than the national average of $1,430. Grocery Cost Index in Okaton is comparable to the US with 100.
Residents of Okaton are served by local businesses such as Blunt Family Pharmacy, Dobby's Bakery & Coffee Shop and JL Gilchrist Insurance Agency Inc. These locally owned businesses provide employment opportunities for the residents and visitors alike while providing quality services to its customers.
The difference in cost of living between Okaton and the US can be found in rental prices and grocery costs. The 2 bedroom rent in Okaton is much more affordable than the national average while grocery costs are comparable. All this makes Okaton a great place to live for those who seek a low-cost place to call home.
Okaton (zip 57562) has an unemployment rate of 3.5%. The US average is 6.0%.
Okaton (zip 57562) has seen the job market decrease by -6.5% over the last year. Future job growth over the next ten years is predicted to be 12.0%, which is lower than the US average of 33.5%.
Tax Rates for Okaton (zip 57562)
- The Sales Tax Rate for Okaton (zip 57562) is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Okaton (zip 57562) 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 Okaton (zip 57562)
- The average income of a Okaton (zip 57562) resident is $23,064 a year. The US average is $37,638 a year.
- The Median household income of a Okaton (zip 57562) resident is $73,889 a year. The US average is $69,021 a year.