Summit, ND Economy


Reviews



BestPlaces offers the best, most comprehensive city reports,
with insight into cost of living, crime, climate, and more.
Summit, ND is a small rural town located in the mid-west region of the United States. It has a population size that is not reported and two bedroom rent prices are significantly lower than the national average. More specifically, Summit's 2 bedroom rent price of $840 is approximately 41% lower than the national average of $1,430. Additionally, Summit's grocery cost index of 95 is 5 points below the US average of 100.
Summit enjoys an economic climate driven by local business owners and agriculture. Popular businesses in Summit include Lakeside Feed & Seed (LF&S), a farm supply store with pet food, gardening supplies, feed for livestock, and more; U Lube Auto Service Center, providing oil changes, brake pad replacements and tune ups; and Sub Zero Snow & Ice Removal LLC providing residential snow plowing services throughout winter.

Summit has an unemployment rate of 3.5%. The US average is 6.0%.

Summit 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 Summit
- The Sales Tax Rate for Summit is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Summit 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 Summit
- The average income of a Summit resident is $37,068 a year. The US average is $37,638 a year.
- The Median household income of a Summit resident is $102,639 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomySummit, North DakotaUnited States
    Unlock6
    Unlock-6.2%
    Unlock33.5%
    Unlock6.2%
    Unlock4.6%
    Unlock$37,638
    Unlock$69,021
    Unlock$85,028
  Population by Occupation
    Unlock1.2%
    Unlock0.5%
    Unlock6.8%
    Unlock10.0%
    Unlock2.5%
    Unlock11.0%
    Unlock4.8%
    Unlock0.8%
    Unlock1.9%
    Unlock4.7%
    Unlock1.9%
    Unlock7.6%
    Unlock0.1%
    Unlock4.2%
    Unlock9.3%
    Unlock14.0%
    Unlock2.1%
    Unlock7.0%
    Unlock4.8%
    Unlock4.7%
Health
Compare Summit, ND
cost of living
Compare food, housing, utilities, and more in Summit, North Dakota to any other city in the US.


The premier source for comprehensive city data for over 30 years.

© Best Places. All rights reserved.