Cost of Living in Richardton, ND

With a cost of living index of 64, Richardton, ND is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 10% below the North Dakota state average of 74. Richardton is a small community of 761 residents.

Housing costs are the biggest factor in Richardton's cost of living. The median monthly rent is $576 (56% below the US median of $1,319), and the median home value sits at $188,900 (38% below the national median of $304,900). At current prices, the median home costs roughly 2.7x the median household income — well within traditional affordability guidelines.

The median household income in Richardton is $69,844, which is 7% lower than the national median of $75,149. Residents spend roughly 10% 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 Richardton. The area sees an average annual temperature of 42.8°F, with summers averaging 67°F and winters around 19°F. Annual rainfall totals 15.6 inches spread over roughly 85 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.