Lake Preston, South Dakota is a small town with a population of just over 500 people. The cost of living in this area is below the national average, as evidenced by the 2 Bedroom Rent being estimated at $850 versus the US average of $1,430. Grocery Cost Index in Lake Preston is also below the national average, at 98 compared to 100 for the nation.
The economy in Lake Preston is largely driven by its agriculture sector, which provides employment to many locals. The town has a variety of local businesses including a hardware store, grocery store, restaurant and several cafes. Overall, Lake Preston is an affordable place to live with plenty of amenities and resources available for residents to access within their community.
Lake Preston (zip 57249) has an unemployment rate of 3.2%. The US average is 6.0%.
Lake Preston (zip 57249) has seen the job market decrease by -1.1% over the last year. Future job growth over the next ten years is predicted to be 20.7%, which is lower than the US average of 33.5%.
Tax Rates for Lake Preston (zip 57249)
- The Sales Tax Rate for Lake Preston (zip 57249) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Preston (zip 57249) 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 Lake Preston (zip 57249)
- The average income of a Lake Preston (zip 57249) resident is $35,125 a year. The US average is $37,638 a year.
- The Median household income of a Lake Preston (zip 57249) resident is $59,375 a year. The US average is $69,021 a year.