Quick facts: Binford, ND

Quick Facts

94.7
Cost of Living
below US average
163
Population
18.4
Crime Rate per 1000
below US average
$46,250
Median Income
below US average
$136,920
Median House Price
above US average
$1200
Average Rent
below US average
10%
Poverty Rate
below US average
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $46,250.

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Income Needed to Buy

βœ“ Affordable
$43k/year
Based on $136,920 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($46,250) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$51k/year
Based on $1200/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $51k vs median $46,250
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Binford, ND

Binford is a small city located in Griggs County, North Dakota. With a population of roughly 150 residents, it offers a quaint, tight-knit community atmosphere. Situated in the heart of North Dakota, the city is surrounded by vast plains and agricultural landscapes, typical of the region. The local economy is primarily driven by farming and agriculture, reflecting the area's rural character. Binford boasts local amenities like the Binford Community Center, which serves as a hub for community events and gatherings. Outdoor enthusiasts can enjoy nearby recreational activities such as fishing and hunting, taking advantage of the wide-open spaces and natural scenery. The city is located near the historic Highway 1 and is a short drive from larger towns for additional services and entertainment. Binford's charm lies in its simplicity, a peaceful lifestyle, and friendly community spirit, making it an attractive spot for those seeking a slower pace of life in North Dakota.

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