Tea, South Dakota is a small town of just under 6,000 people located in Lincoln County. The cost of living is relatively low here, with two bedroom rents coming in around $1,080 compared to the US average of $1,430. Grocery costs are also favorable with an index of 103 compared to the US average of 100. Tea has many local companies that serve the community such as the local newspaper, Sioux Valley News; Hy-Vee grocery store; and Borsheim's jewelry store. Other businesses that call Tea home include Holiday Inn Express & Suites Watertown - Eventide; Cash Wise Foods; Palmer Bus Service; and Get N Go convenience stores. With its lower cost of living and range of local businesses, Tea makes for a great place to settle down.
Tea (zip 57064) has an unemployment rate of 2.5%. The US average is 6.0%.
Tea (zip 57064) 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 39.6%, which is higher than the US average of 33.5%.
Tax Rates for Tea (zip 57064)
- The Sales Tax Rate for Tea (zip 57064) is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Tea (zip 57064) 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 Tea (zip 57064)
- The average income of a Tea (zip 57064) resident is $35,494 a year. The US average is $37,638 a year.
- The Median household income of a Tea (zip 57064) resident is $93,319 a year. The US average is $69,021 a year.