Cost of Living in Parshall, ND

With a cost of living index of 63, Parshall, ND is one of the most affordable cities in the country. Living here is 37% cheaper than the national average and 12% below the North Dakota state average of 74. Parshall is a small community of 957 residents.

Housing costs are the biggest factor in Parshall's cost of living. The median monthly rent is $711 (46% below the US median of $1,319), and the median home value sits at $121,700 (60% below the national median of $304,900). At current prices, the median home costs roughly 2.9x the median household income — well within traditional affordability guidelines.

The median household income in Parshall is $42,500, which is 43% lower than the national median of $75,149. Residents spend roughly 20% 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.

Climate is another factor for anyone considering a move to Parshall. The area sees an average annual temperature of 40.9°F, with summers averaging 66°F and winters around 14°F. Annual rainfall totals 17.8 inches spread over roughly 102 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.