New Salem, ND is a small town with many local businesses such as the New Salem Market, Wold Hardware and Sport Shop, and Sunshine Garden Center. Despite its small size, it is a great place to live due to its low cost of living. Rent for a two-bedroom apartment in this area runs around $840, which is much lower than the US average of $1,430. Additionally, grocery costs in New Salem are only 96 out of 100 compared to US averages. This makes New Salem an attractive location for those looking for affordable housing and everyday necessities.
New Salem has an unemployment rate of 5.3%. The US average is 6.0%.
New Salem has seen the job market decrease by -1.9% over the last year. Future job growth over the next ten years is predicted to be 27.8%, which is lower than the US average of 33.5%.
Tax Rates for New Salem
- The Sales Tax Rate for New Salem is 5.5%. The US average is 7.3%.
- The Income Tax Rate for New Salem 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 New Salem
- The average income of a New Salem resident is $25,718 a year. The US average is $28,555 a year.
- The Median household income of a New Salem resident is $65,417 a year. The US average is $69,021 a year.