One of the biggest and most important economic decisions an individual can make is deciding where to live. Sure, we all dream of living in big mansions in the middle of expensive cities like New York or Beverly Hills like a celebrity, but realistically speaking most of us simply cannot afford that luxurious lifestyle. Fortunately, there are other places available that are much more economical that still have a lot to offer. North Dakota may take the cake for being the number 1 most economical state to live in. Here are 5 reasons why you should consider moving to North Dakota.
- There is a Very Low unemployment Rate
- There are Cheap Housing Options Available
- Oil Reserves
- It’s Safe
Are you in need of a job? North Dakota is the last place you should feel stressed or anxious about finding a job in. Their job market is BOOMING! This is due to all of the farms, oil reserves, and agriculture within the area. Not interested in working for an oil refinery or on a farm? That’s okay. Even the simple jobs that are traditionally viewed as mere “minimum wage jobs” like working in a restaurant are known to pay well. Most restaurants pay an average of $15 per hour or more.
Mortgage loans are one of the quickest ways to land yourself in debt especially if you live in an expensive area like New York. However, North Dakota seems to be exempt from this rule. Waterford City, ND real estate is especially affordable compared to other cities. North Dakota is also known for having the lowest home foreclosure rates. Living in North Dakota is a great idea if you are currently looking to get out of mortgage debt.
I already explained that North Dakota’s extensive farmland has been largely responsible for their booming economy. However, in addition to aiding the successful economy, North Dakota’s farmland also offers a great supply of food. Some of their most famous farmland products include wheat, sunflower, barley, oats, lentils, honey, beans, flaxseed, and canola. There’s virtually no threat of a food shortage and you’ll always have access to fresh, healthy foods. Healthier eating habits will help to create a healthier you which could decrease your need for medical expenses, proving to be even more economical.
Oil is perhaps one of the most sought-after resources in the entire world. It controls the price of pretty much everything these days. In many places, that is a bad thing as gas prices, food prices, and pretty much the price of everything imaginable continues to rise. However, in North Dakota where oil reserves are found all around, this is a great thing. The oil reserves are bringing a number of people into North Dakota offering money to drill from properties that hold it. Thousands of jobs have been created because of the oil reserves and the cost of living has gone down. With the ability to receive a steady income and the low cost of items in town, North Dakota has become a state where you can not only live comfortably, but possibly make a profit off of the oil reserves as well.
North Dakota is one of the safest states in the country. According to Neighborhood Scout, North Dakota has a below average crime rate for every category. Out of a total of 751, 131 violent crimes in the United States, North Dakota was responsible for only 1,315 which averages out to less than .002% of all violent crimes. North Dakota is a very safe place to raise your kids.
As you can see, moving to North Dakota offers a host of financial benefits. You can earn a higher income, get cheaper real estate rates, and eat healthy, fresh grains straight from the farms. In addition to growing financially, you’ll be able to improve your quality of life through living in a safer community, being healthier, and of course, happier. What’s the cost of your happiness and quality of life? It’s a priceless service that North Dakota only hopes to enhance.