Cottonwood, ND is a small rural town located in the heart of North Dakota. It has a total population of just under 400 people and is known for its friendly atmosphere, low crime rate, and laid back lifestyle. The cost of living in Cottonwood is relatively low compared to other areas in the United States. For example, the average rent for a two bedroom apartment is $910 compared to the national average rent of $1,430. Grocery costs are also lower than the average, with an index score of 99 as opposed to 100 for the overall US. This makes Cottonwood an ideal place to live if you are looking for an affordable lifestyle without sacrificing quality of life or amenities. Local businesses include farmers markets and small mom-and-pop grocery stores such as Grandma's Pantry and Jodie's Country Store & Bakery. Residents can also enjoy several nearby attractions such as the Cottonwood Wildlife Refuge and Silent Pines State Park.
Cottonwood has an unemployment rate of 4.6%. The US average is 6.0%.
Cottonwood has seen the job market decrease by -10.9% over the last year. Future job growth over the next ten years is predicted to be 2.1%, which is lower than the US average of 33.5%.
Tax Rates for Cottonwood
- The Sales Tax Rate for Cottonwood is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Cottonwood 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 Cottonwood
- The average income of a Cottonwood resident is $66,214 a year. The US average is $37,638 a year.
- The Median household income of a Cottonwood resident is $0 a year. The US average is $69,021 a year.