Pherrin, ND is a small rural town located in the heart of North Dakota. It has a low cost of living compared to other cities in the state making it an attractive place to live for people on tight budgets. The average two bedroom rent in Pherrin is $700 per month, which is significantly lower than the nationwide average of $1,430. Additionally, the Grocery Cost Index in Pherrin is 101 versus 100 for the rest of the US indicating that groceries are slightly more expensive than in other areas.
In terms of businesses that operate within Pherrin, there are several local companies such as The Home Store furniture shop, Kluckers Bakery and Cafe, Moeller Insurance Agency, and Pherrin Veterinary Clinic. Each business plays a vital role in keeping the community thriving by providing residents with essential goods and services.
Sources: \n\"2 Bedroom Rent Statistics Nationwide,\" Rentometer.com (2020). \n\"Grocery Cost Index,\" Statista (2020).
Pherrin has an unemployment rate of 9.0%. The US average is 6.0%.
Pherrin has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 1.2%, which is lower than the US average of 33.5%.
Tax Rates for Pherrin
- The Sales Tax Rate for Pherrin is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Pherrin 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 Pherrin
- The average income of a Pherrin resident is $45,063 a year. The US average is $28,555 a year.
- The Median household income of a Pherrin resident is $119,167 a year. The US average is $69,021 a year.