Rapid Valley cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexRapid ValleySouth DakotaNational
Cost of living index9289100
IndexRapid ValleySouth DakotaNational
Goods & Services index9595100
Groceries index105105100
Health care index9393100
Housing index8675100
Transportation index9191100
Utilities index8787100
Displayed above is a general overview of the Rapid Valley, SD cost of living index. The overall cost of living index in Rapid Valley, SD is 92, which is 4% higher than the South Dakota average and 8% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Rapid Valley, SD are equal to the South Dakota average and 5% lower than the national average.

Did you know?

  • The cost of living in Rapid Valley is 4% higher than the South Dakota average.
  • The cost of living in Rapid Valley is 8% lower than the national average.
  • The cost of housing in Rapid Valley is 14% lower than the national average.
  • South Dakota general sales tax is 21% lower than the national average.
  • South Dakota state income tax is 100% lower than the national average.

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Compare Rapid Valley, SD Cost of living To Other Cities

Salary Calculator

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Use the salary calculator to compare your current salary in Rapid Valley, SD to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Rapid Valley, SD, then you would need to earn more income in order to maintain the same standard of living. To use the Rapid Valley, SD salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$60,377$5,031$1,409$1,811
Renters$38,558$3,213$900$1,157
If you want to find a good determining factor for the cost of living and the general affordability of housing in Rapid Valley, SD, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Rapid Valley, SD, the median monthly income is $60,377 for those who own their own homes. Under the standard rule, that income level would allow for $1,409 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $38,558, per the median income in the area. That would allow for renters to spend up to $900 on monthly rental expenses.

South Dakota Sales Tax

StateGeneral Sales TaxWith Max Surtax
South Dakota4%6%

South Dakota Income Tax

StateIncome Tax (Low)Income Tax (High)
South Dakota0%0%
The South Dakota sales tax and South Dakota income tax rates should definitely be considered when determining the overall cost of living in Rapid Valley, SD. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The South Dakota sales tax is 4% and the maximum surtax is 6%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The South Dakota income tax rates range from 0% to 0%.

Goods & Services

ItemRapid ValleyNational avg.Difference
Haircut $14.08$14.593.5%
Beauty Salon $25.78$34.6825.7%
Toothpaste $2.46$2.470.5%
Shampoo $1.19$1.0216.4%
Movie $8.50$9.8713.9%
Bowling $4.50$4.392.5%

Groceries

ItemRapid ValleyNational avg.Difference
Ground Beef $4.14$4.487.5%
Fried Chicken $1.70$1.4616.1%
Milk $2.43$2.363.1%
Potatoes $2.83$3.067.6%
Pizza $8.00$9.2413.4%
Beer $9.21$8.636.7%

Health Care

ItemRapid ValleyNational avg.Difference
Optometrist $108.00$99.788.2%
Doctor $100.50$105.034.3%
Dentist $72.80$88.7017.9%
Ibuprofen $9.40$9.410.1%
Lipitor $302.33$298.501.3%

Housing

ItemRapid ValleyNational avg.Difference
Home Price $141,400.00$175,700.0019.5%
Avg. Mortgage Payment $1,425.16$1,081.0331.8%
Apartment Rent $908.00$920.001.3%

Transportation

ItemRapid ValleyNational avg.Difference
Gasoline $1.98$2.095.3%
Tire Balancing $35.79$45.2921.0%

Utilities

ItemRapid ValleyNational avg.Difference
All Electricity$131.53$170.8023.0%
Phone $28.50$28.260.9%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Ashland Heights, SD62278-22%
New Underwood, SD60183-17%
Keystone, SD36587-13%
Blackhawk, SD2,75489-11%
Box Elder, SD8,68390-10%
Rapid Valley, SD8,61992-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Orosi, CA8,62095-5%
East Grand Forks, MN8,62194-6%
Rotonda, FL8,6161044%
Northfield, NJ8,61612323%
West Athens, CA8,61512424%
Rapid Valley, SD8,61992-8%
Source: The Rapid Valley, SD cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.