Cost of Living in Binford, ND

With a cost of living index of 48, Binford, ND is one of the most affordable cities in the country. Living here is 52% cheaper than the national average and 27% below the North Dakota state average of 74. Binford is a small community of 148 residents.

Housing costs are the biggest factor in Binford's cost of living. The median monthly rent is $354 (73% below the US median of $1,319), and the median home value sits at $72,600 (76% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Binford is $32,813, which is 56% lower than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.