Elma, ND is a small city located in the northern part of the state. It has a close-knit community that offers a variety of local businesses to residents. Popular companies in the area include Elma Hardware, Elma Pharmacy, and Elma City Bank. Despite its small size, Elma is quite affordable for renters. The average 2 bedroom rent in Elma is just $830 per month whereas it’s $1,430 nationally. Grocery costs are also quite low compared to other parts of the United States with an index of 93 versus 100. People looking for an affordable place to live will find plenty of great options in Elma!
Elma has an unemployment rate of 3.5%. The US average is 6.0%.
Elma has seen the job market decrease by -2.5% 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 Elma
- The Sales Tax Rate for Elma is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Elma 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 Elma
- The average income of a Elma resident is $35,110 a year. The US average is $37,638 a year.
- The Median household income of a Elma resident is $0 a year. The US average is $69,021 a year.