Typical Expenses
| 1 ADULT | ||
|---|---|---|
| 0 Children | 1 Child | |
| Other | $4,939 | $7,366 |
| Required annual income after taxes | $26,949 | $53,479 |
| Annual taxes | $4,369 | $8,670 |
What is a livable salary in South Dakota?
Living Wage Calculation for South Dakota
| 1 ADULT | 2 ADULTS (BOTH WORKING) | |
|---|---|---|
| 0 Children | 3 Children | |
| Living Wage | $14.85 | $24.67 |
| Poverty Wage | $6.19 | $7.46 |
| Minimum Wage | $9.95 | $9.95 |
How expensive is it to live in Sioux Falls SD?
Sioux Falls cost of living is 88.6
| COST OF LIVING | Sioux Falls | South Dakota |
|---|---|---|
| Health | 91.6 | 101.5 |
| Housing | 81.4 | 83.8 |
| Median Home Cost | $253,700 | $239,500 |
| Utilities | 96.4 | 93.6 |
Is the cost of living good in South Dakota?
Living in South Dakota is less expensive than it is on average across the U.S. as a whole. According to data from the Bureau of Economic Analysis, goods and services in the state cost 12.1% less than they do on average nationwide. Compared with all other states, South Dakota has the sixth lowest overall cost of living.
What is the average pay in South Dakota?
Average Salary in South Dakota
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $86,109 | $7,175 |
| 75th Percentile | $70,801 | $5,900 |
| Average | $68,021 | $5,668 |
| 25th Percentile | $47,360 | $3,946 |
What is considered low income in South Dakota?
Compare Jurisdictions
| Annual Income Needed to Afford | South Dakota | Custer County HMFA |
|---|---|---|
| One-Bedroom | $25,167 | $28,240 |
| Two-Bedroom | $32,159 | $37,240 |
| Three-Bedroom | $43,378 | $46,320 |
| Four-Bedroom | $51,684 | $51,600 |
What is a good income for a single person?
While what is a good salary for a single person will depend largely on where you live, the median household income in the US is $67,521. As this is often based on multiple incomes in the one household, a single person earning at least $67,521 can be considered a good salary.
Is Sioux Falls cheap to live in?
A friendly tax climate and affordable housing provides a cost of living 6% below the national average. In fact, Livability.com recently named Sioux Falls the #5 best place to live in America. Sioux Falls participates in the C2ER Cost of Living Index.
Is Sioux Falls a cheap place to live?
When it comes to picking a place to live, one of the most important factors is affordability. For that reason, we’re excited to share that Sioux Falls tops the list of most affordable places to live and work in the U.S. for 2022!
Where is the cheapest place to live in South Dakota?
Most affordable place to live in South Dakota
| Rank | City, State | Affordability Index |
|---|---|---|
| 1 | Huron, SD | 49.20 |
| 2 | Madison, SD | 44.21 |
| 3 | Rapid Valley, SD | 42.23 |
| 4 | Harrisburg, SD | 41.92 |
What is the cheapest state to live in?
Mississippi
Mississippi. Mississippi is the cheapest state to live in in the United States. Overall, costs in the state are 17% lower than the national average. Housing costs in Mississippi are the lowest in the nation.
What is the lowest cost of living state?
Mississippi
Mississippi. Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi’s housing costs are the lowest in the nation.
What are the pros and cons of living in South Dakota?
Pros & Cons of Living in South Dakota
| Pros of living in South Dakota | Cons of living in South Dakota |
|---|---|
| Decent and high quality of life | Unpredictable weather |
| Huge banking opportunity | Small town vibe |
| Spacious surrounding | Sparse population |
| No state income tax | Weird statutes |
What is a good hourly wage in South Dakota?
Hourly Rate Salary in South Dakota
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $59,798 | $29 |
| 75th Percentile | $46,403 | $22 |
| Average | $37,453 | $18 |
| 25th Percentile | $27,746 | $13 |
What are wages like in South Dakota?
The minimum wage in South Dakota increased to $9.45 on January 1, 2021, up from $9.30 per hour the previous year. This is $2.20 more than the federal minimum wage.
What are the people like in Sioux Falls?
Living in Sioux Falls offers residents a dense suburban feel and most residents own their homes. In Sioux Falls there are a lot of bars, coffee shops, and parks. Many families and young professionals live in Sioux Falls and residents tend to lean conservative. The public schools in Sioux Falls are highly rated.
Is South Dakota a cheap place to live?
South Dakota is truly a great place to live. It’s one of the most taxpayer-friendly states in the country, and its residents can enjoy comparatively low local taxes and no individual income tax. The “Mount Rushmore State” ranks high in affordability due to its strong economy, low cost of living and economical housing.
What is the South Dakota poverty line?
Am I Eligible for Assistance
| Family Size | Adjusted Monthly Income Based on 209% of Federal Poverty Level Effective March 1, 2022 |
|---|---|
| 2 | $3,189 |
| 3 | $4,011 |
| 4 | $4,834 |
| 5 | $5,656 |
What is the best city to live in South Dakota?
Sioux Falls is the best place to live in South Dakota, among the top cities in US, study finds. Sioux Falls ranks among some of the U.S.’s best small and mid-size American cities, according to a study conducted by Livability.com in partnership with Ipsos.
How much money do you need to live comfortably without working?
It’s called the 25 times rule, and it’s very simple. You multiply your annual spending by 25, and that is the minimum amount of money you would need invested to fund your lifestyle without working.
How much money do I need to live on my own?
A popular rule of thumb says your income should be around 3 times your rent. So, if you’re looking for a place that costs $1,000 per month, you may need to earn at least $3,000 per month.
