Richmond, ND is a city located in the southeastern area of North Dakota. It is a great place to live with an affordable cost of living. Rent for a two bedroom apartment averages at $1,040, compared to the US average of $1,430. Grocery costs are also lower here than the national average, with an index of 93 versus 100 in the US. The local economy is based primarily on farming and agriculture, but there are a few other businesses as well. These include Day's Country Store, which has served the community since 1935, and The Loft Restaurant & Pub, which provides delicious food and drinks in a cozy atmosphere. Richmond truly offers something for everyone!
Richmond has an unemployment rate of 4.1%. The US average is 6.0%.
Richmond has seen the job market decrease by -1.5% over the last year. Future job growth over the next ten years is predicted to be 30.0%, which is lower than the US average of 33.5%.
Tax Rates for Richmond
- The Sales Tax Rate for Richmond is 6.5%. The US average is 7.3%.
- The Income Tax Rate for Richmond 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 Richmond
- The average income of a Richmond resident is $21,042 a year. The US average is $28,555 a year.
- The Median household income of a Richmond resident is $76,250 a year. The US average is $69,021 a year.