Spencer, North Dakota is a small town located in the Midwest of the United States. It has a cost of living that is lower than the national average which makes it an attractive destination for those looking for affordable housing. The average 2 bedroom rent in Spencer is $1,010 per month, compared to $1,430 nationally. Additionally, the grocery cost index in Spencer is 95 versus 100 nationally. Businesses and attractions abound in Spencer. Some popular local businesses include Farm Bureau Financial Services, Riddle Insurance Agency Inc., and Farmers Union Insurance Group. Popular attractions include Enchanted Castle Games & Gifts, Badlands Office Machines, and Dakota Sunsets Photography & Art Gallery. For those looking for a small town feel at an affordable price point, Spencer is worth considering.
Spencer has an unemployment rate of 6.0%. The US average is 6.0%.
Spencer has seen the job market decrease by -3.9% over the last year. Future job growth over the next ten years is predicted to be 11.1%, which is lower than the US average of 33.5%.
Tax Rates for Spencer
- The Sales Tax Rate for Spencer is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Spencer 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 Spencer
- The average income of a Spencer resident is $144,667 a year. The US average is $37,638 a year.
- The Median household income of a Spencer resident is $0 a year. The US average is $69,021 a year.