Cherry Lake, ND is a small town located along the north-eastern border of North Dakota. It is known for its peaceful atmosphere and low cost of living. Rent prices in Cherry Lake are extremely affordable, with the average two bedroom coming in at just $840 compared to $1,430 in the US. Similarly, the grocery cost index here is 92 compared to 100 for the country as a whole.
The town features many businesses including agricultural companies like D&M Farms and Cattle Co., Jake's Hardware & Supply Store for all your home improvement needs and Federer Winery, a local winery that offers tours and tastings. There are also plenty of food establishments such as The Pines Cafe and Grill or Peg's Pizza Place that serve dishes made from locally sourced ingredients. All these make Cherry Lake an ideal destination for those looking for a tranquil place to spend their time away from the hustle and bustle of city life.
Cherry Lake has an unemployment rate of 5.3%. The US average is 6.0%.
Cherry Lake has seen the job market decrease by -1.4% 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 Cherry Lake
- The Sales Tax Rate for Cherry Lake is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Cherry Lake 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 Cherry Lake
- The average income of a Cherry Lake resident is $24,972 a year. The US average is $28,555 a year.
- The Median household income of a Cherry Lake resident is $69,375 a year. The US average is $69,021 a year.