North Dakota is one of the most affordable states to live in. The average two bedroom rent in the state is only $920, which is much lower than the national average of $1,430. People who live in North Dakota also benefit from a low Grocery Cost Index of 95 compared to the US average of 100. Because of these low costs, North Dakota is an attractive place to live for young professionals and families alike.
The state offers many local companies that are beneficial for residents. For instance, there are energy companies such as Xcel Energy and Basin Electric Power Cooperative that provide electricity to households across the state. Other major employers include Sanford Health, Microsoft Corporation, U.S Bank, and Bobcat Company.
In conclusion, North Dakota has a low cost of living that makes it an ideal place to settle down for those looking to save money. With local businesses providing employment opportunities and plenty of activities to do around the state like visiting Theodore Roosevelt National Park or taking a ride on the historic Red River Valley & Western Railroad Co., anyone can find something perfect for their lifestyle!
North Dakota has an unemployment rate of 4.8%. The US average is 6.0%.
North Dakota has seen the job market decrease by -2.1% over the last year. Future job growth over the next ten years is predicted to be 22.2%, which is lower than the US average of 33.5%.
Tax Rates for North Dakota
- The Sales Tax Rate for North Dakota is 6.7%. The US average is 7.3%.
- The Income Tax Rate for North Dakota 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 North Dakota
- The average income of a North Dakota resident is $30,894 a year. The US average is $28,555 a year.
- The Median household income of a North Dakota resident is $68,131 a year. The US average is $69,021 a year.