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EconPulse

Local economy signal dashboard

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PLACEThriving

Palermo, ND

Thriving overall. Jobs is the clearest support signal, while population needs the most attention. Housing reads as strained for a median-income household.

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Overall score68out of 100
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78
100
0
50
100

Population

129

Data freshness

Unknown

GDP / Output

+5.6% YoY

78

$2.3B

Output changed +5.6% in 2024.

Vintage date unknown

State growth2.8%
U.S. growth5.3%

Jobs

Unemployment rate

100

0.0%

Unemployment is 0.0% for Latest available.

Vintage date unknown

State avg2.8%
U.S. avg5.2%

Population

-20.9% 5-year

0

129

Population moved -20.9% over the latest ACS window.

Vintage date unknown

State population784,841
U.S. population334,922,499

Housing

Rent share of income

50

36.0%

Median rent consumes 36.0% of median household income: Strained.

Vintage date unknown

State rent$954
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$11.8K per resident

100

$115.6M

$115.6M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$98.4B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$115.6M

$11.8K per resident in reported federal flow.

Top agencies

Dollars
1. Department of the Interior$47.2M
2. Social Security Administration$34.3M
3. Department of Agriculture$15.9M

Top recipients

Dollars
1. THREE AFFILIATED TRIBES$45.1M
2. REDACTED DUE TO PII$15.2M
3. NUETA HIDATSA SAHNISH COLLEGE$5.2M

Strained

Housing Affordability

36.0%

of median income

1BR estimate$897
2BR estimate$1,182
Median income$36,429
Median home value$43,300

ACS context

Quick Facts

Population

129

Median age

45.4

Bachelor's degree+

1.1%

Poverty rate

6.2%

Labor force participation

47.5%

Prime rate

7.0%

CPI YoY

+3.0%

U.S. GDP YoY

+6.6%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-09-17

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

-4.6%

GDP CAGR

+11.3%

Federal flow

5 years

Population (5 years)
2020163
2021133
2022131
2023107
2024129
GDP (5 years)
2020$1.3B
2021$2.3B
2022$2.8B
2023$2.2B
2024$2.3B

2-year linear forecast

Predictive Outlook

Population forecast

2024129
2025104 *
202695 *

R² = 55.4% · * projected

GDP forecast

2024$2.3B
2025$2.7B *
2026$2.9B *

R² = 28.6% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$36,429/yr
Median rent$1,094/mo
Rent share of income36.0%
Est. mortgage (30yr, 6.5%)$2,627/yr
Mortgage share of income7.2%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate0.0%
State avg2.8%
U.S. avg5.2%
Labor force participation47.5%
Poverty rate6.2%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$43,300
Median monthly rent$1,094
Price-to-rent ratio3.3x

Low price-to-rent ratio — buying may be more favorable than renting in this market.

composite score

Investment Climate

Investment climateModerate
Composite score65/100
Economic growth78/100
Labor market100/100
Population momentum0/100
Overall stability68/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Palermo city, North Dakota

City/Town

Part of

North Dakota

Nearby locations

Stanley, NDRoss, NDDonnybrook, NDBerthold, NDKenmare, ND