Tower, ND is a small community located in the North of the United States. It has an affordable cost of living with 2 bedroom rent averaging $830 and a grocery cost index of 96 compared to 100 in the US. The local economy is mainly based on agriculture with companies such as Tower Farming Co., Tower Dairy Farm, and Tower Grain Elevator providing goods to the area. To supplement these industries, there are also several small businesses in the area including Baker's Bakery, Turner's Barbershop, and Smith Electronics. All of these businesses provide valuable services to the people at Tower, ND.
Tower has an unemployment rate of 3.8%. The US average is 6.0%.
Tower has seen the job market decrease by -1.0% over the last year. Future job growth over the next ten years is predicted to be 39.3%, which is higher than the US average of 33.5%.
Tax Rates for Tower
- The Sales Tax Rate for Tower is 7.5%. The US average is 7.3%.
- The Income Tax Rate for Tower 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 Tower
- The average income of a Tower resident is $31,135 a year. The US average is $28,555 a year.
- The Median household income of a Tower resident is $121,250 a year. The US average is $69,021 a year.