North Dakota Retirement Guide
Located along the Canadian border, North Dakota as the third least populated state in the nation, is ideal for retirees hoping to get away. North Dakota has a reliably strong economy; unemployment is lower than the national average. Located in the Great Plains, the outdoors are an enormous part of North Dakota life. Religion is also important here; North Dakota has more churches per capita than any other state. Population was estimated at 757,000 in late 2015, with a median age of 35.4. Active adults looking for information on cities for retirement like Fargo and Bismarck will find all they need to know here. Updated Dec., 2016.
North Dakota has a largely semi-arid climate. The state can experience everything from high speed straight-line winds, hail, and thunderstorms to blizzards and tornadoes. Springtime flooding is a relatively common occurrence in the Red River Valley. In 2009 the American Lung Association rated Fargo as the cleanest city in the country, giving it an A for air quality.
Per Capita Income and Home Prices
North Dakota is slightly above average when it comes to rankings for cost of living, with a $57,181 median household income. The state has the 28th lowest cost of living of all the states. The Zillow Home Value Index in late 2016 was $203,600. The National Association for Realtors placed median selling prices for homes in Fargo at $204,100 and in Bismarck at $251,000 in late 2016.
Tax Burden: At 9% according to the Tax Foundation the state has the 33rd highest tax burden.
Marginal Income Tax Rates. The individual tax system is broken up into five brackets; the top bracket kicks in in the $400s at 2.9% (2016), one of the lowest rates in the country.
Retirement Income Exemptions. $5,000 can be deducted from military, civil service, and some state/local pensions, minus Social Security. Out of state government pensions are fully taxed. Retired military pay is generally taxable.
Social security exemption. North Dakota also applies the state income tax to Social Security benefits that are taxable at the federal level.
Sales Tax: State sales tax is 5%.
Property Taxes: Property taxes are mid-range at $1140 per person - it ranks 30th nationally.
Homestead exemption: There is a homestead tax credit for those with a household income of $26,000 or less.
Estate and/or Inheritance Taxes. North Dakota does not have an inheritance tax. There is an estate tax pegged at the federal exemption.
Link to http://www.nd.gov/tax/
Certified Retirement Communities
North Dakota does not have a certified retirement community program.
Best Retirement Communities
North Dakota has at least two active adult communities: Waterford on West Century and Waterford at Harwood.