Cost of Living in Powers Lake, ND

With a cost of living index of 77, Powers Lake, ND is a very affordable place to live. Living here is 23% cheaper than the national average and 3% above the North Dakota state average of 74. Powers Lake is a small community of 292 residents.

Housing costs are the biggest factor in Powers Lake's cost of living. The median monthly rent is $1,074 (19% below the US median of $1,319), and the median home value sits at $165,000 (46% below the national median of $304,900). At current prices, the median home costs roughly 2.1x the median household income — well within traditional affordability guidelines.

The median household income in Powers Lake is $77,750, which is 3% higher than the national median of $75,149. Residents spend roughly 17% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Powers Lake. The area sees an average annual temperature of 37.9°F, with summers averaging 64°F and winters around 10°F. Annual rainfall totals 15.7 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.