There are many things to consider when moving to a place. House prices, cost of living, entertainment options, and ethnic make-up of people in the community may just be some of your options. If you will take the entertainment (professional sports teams and tourist attractions, for example) and the weather, North Dakota will be far down in your list of US states to live in, but looking at it from an economic point of view, there's all the reason in the world to be part of the country's least populous state.
While 44 states are projected to have budget shortfalls in 2012, North Dakota has just decided to cut its taxes by some $400 million because of its huge budget surplus. Lawmakers in this state are even debating whether they should make further tax cuts.
Aside from the budget surplus, there are a few more reasons why we should transfer to North Dakota, if we will believe this article from Yahoo! Finance. Among these reasons is the fact that the state has the lowest unemployment rate in the country, with just about 3.8 percent unemployment. This has never touched the 5-percent mark since 1987. This probably has to do with the fact that the economy of North Dakota is mainly based on primary commodities such as oil and wheat.
Home prices are also something to look at. Median home prices in North Dakota stand at just around $150,000. These low home prices account for the state's standing as having the third lowest home foreclosure rate. Just like any other agriculture-based state, North Dakota also has very low crime incidents, fourth in the country and 60 percent below the national average.
Should you transfer to North Dakota because of these facts? Only you can determine that, based on your own needs, wants, and priorities. The lack of standard entertainment options and the harsh winter may deter you from coming. Still, if we are going to make economics as our sole basis, then there is no doubt that North Dakota is the place to be.
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