Preston, ND is a small rural town located in the heart of North Dakota. It has a population of around 760 people and is known for its lower cost of living. The 2 bedroom rent in Preston is significantly lower than the national average of $1430. In addition, the Grocery Cost Index in Preston is comparable to that of the nation as a whole.
The local economy in Preston is driven by small businesses, such as grocery stores, antique shops, and restaurants. There are also many farms that contribute to the local economy and provide agricultural goods to residents and visitors alike. Additionally, there are several industrial companies in the area that offer employment opportunities to locals. These include manufacturing plants and distribution centers for products like electronics and automotive parts. All together, these businesses play an important role in keeping the economy stable and providing jobs to those who live in Preston.
Preston has an unemployment rate of 3.0%. The US average is 6.0%.
Preston has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 29.6%, which is lower than the US average of 33.5%.
Tax Rates for Preston
- The Sales Tax Rate for Preston is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Preston 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 Preston
- The average income of a Preston resident is $31,366 a year. The US average is $28,555 a year.
- The Median household income of a Preston resident is $99,250 a year. The US average is $69,021 a year.