Fay, ND is a small town with an affordable cost of living. The average 2 bedroom rent in Fay is much lower than the US average, at $830 compared to $1,430. Additionally, the grocery cost index in Fay is 95 versus 100 in the US. Local companies and services include Fay Mercantile, a family-owned clothing store; Joy's Cafe and Bakery, a popular breakfast spot; and Valley Vet Services, a local veterinary hospital. All these companies provide great services to the community of Fay.
Fay has an unemployment rate of 6.5%. The US average is 6.0%.
Fay has seen the job market decrease by -5.2% over the last year. Future job growth over the next ten years is predicted to be 3.5%, which is lower than the US average of 33.5%.
Tax Rates for Fay
- The Sales Tax Rate for Fay is 5.0%. The US average is 7.3%.
- The Income Tax Rate for Fay 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 Fay
- The average income of a Fay resident is $26,536 a year. The US average is $28,555 a year.
- The Median household income of a Fay resident is $126,071 a year. The US average is $69,021 a year.