Buchanan, ND is a small town located in North Dakota with an estimated population of only 559 people. The cost of 2 bedroom rent in Buchanan is much cheaper than that of the US - $820 versus $1430. Additionally, the Grocery Cost Index in Buchanan is the same as the US, at 100. There are a few major local companies located in Buchanan which benefit the community by providing employment opportunities and economic growth. These include BNSF Railway, which offers rail transportation services to businesses throughout North Dakota; Ducks Unlimited, which provides wetlands protection and conservation assistance for habitats around North Dakota; and Dacotah Bank, an independent bank that serves communities throughout North Dakota and Minnesota. All these companies contribute to the local economy by employing many local residents and bringing additional resources into the area.
Buchanan has an unemployment rate of 4.0%. The US average is 6.0%.
Buchanan has seen the job market decrease by -1.8% over the last year. Future job growth over the next ten years is predicted to be 29.9%, which is lower than the US average of 33.5%.
Tax Rates for Buchanan
- The Sales Tax Rate for Buchanan is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Buchanan 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 Buchanan
- The average income of a Buchanan resident is $39,433 a year. The US average is $28,555 a year.
- The Median household income of a Buchanan resident is $155,000 a year. The US average is $69,021 a year.