Homestead, ND is a small community with a population of just over 400 people. The cost of living is significantly lower than the US average, making it an attractive place to live for budget-conscious individuals and families. The median rent for a two-bedroom apartment is only $800 compared to the US median of $1,430, and the city boasts an even greater disparity in grocery costs (94) compared to the national average (100).
There are plenty of local businesses in Homestead that offer goods and services for residents. Examples include Filan’s Grocery Store, which offers fresh produce at competitive prices; Sunny’s Diner, a cozy restaurant located on Main Street; and D&D Electric Co., which provides quality electrical work at affordable rates. There are also many other small businesses that offer unique items, like Sweetwater Antiques & Crafts or Blue River Bakery & Cafe. Homestead offers something for everyone - from great food to low cost of living -making it a great choice for those looking for an affordable place to call home.
Homestead has an unemployment rate of 3.5%. The US average is 6.0%.
Homestead 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 Homestead
- The Sales Tax Rate for Homestead is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Homestead 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 Homestead
- The average income of a Homestead resident is $36,054 a year. The US average is $28,555 a year.
- The Median household income of a Homestead resident is $167,688 a year. The US average is $69,021 a year.