Fairmount, ND is a small town located in the US with a population of approximately 600 people. Despite its size, Fairmount offers much in the way of amenities for its residents. Living costs are relatively low compared to the US average; 2 bedroom rent is only $750 and the grocery cost index is 93 versus 100 in the US. The town is home to several local companies such as Fairmount Hardware Company, Fairmount Nursery & Greenhouse, and Fairmount Veterinary Clinic. These businesses provide employment and services to residents of Fairmount and bring additional investment into the community.
Fairmount has an unemployment rate of 3.5%. The US average is 6.0%.
Fairmount has seen the job market decrease by -4.0% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Fairmount
- The Sales Tax Rate for Fairmount is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Fairmount is 2.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Fairmount
- The average income of a Fairmount resident is $23,973 a year. The US average is $28,555 a year.
- The Median household income of a Fairmount resident is $48,929 a year. The US average is $69,021 a year.