Prescott, ND is a small town with a population of about 2,000 people. It is located in central North Dakota and has a quiet community atmosphere. The local economy is comprised mostly of small businesses such as Ace Hardware, Prescott Realty, and Thomsen Electric.
When it comes to rental prices and grocery costs compared to the US average, Prescott offers great value for its residents. The average rent for a two bedroom apartment in Prescott is $930 which is significantly lower than the US national average of $1,430. Additionally, the Grocery Cost Index in Prescott is 97 compared to 100 in the US. This makes groceries much more affordable than they are in other parts of the country.
Prescott has an unemployment rate of 4.3%. The US average is 6.0%.
Prescott has seen the job market decrease by -1.4% over the last year. Future job growth over the next ten years is predicted to be 15.0%, which is lower than the US average of 33.5%.
Tax Rates for Prescott
- The Sales Tax Rate for Prescott is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Prescott 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 Prescott
- The average income of a Prescott resident is $35,873 a year. The US average is $37,638 a year.
- The Median household income of a Prescott resident is $70,938 a year. The US average is $69,021 a year.