The estimated Cost of Living Index (CPI) for the Northern Mariana Islands is around 66 (NYC = 100 baseline), indicating moderate costs, approximately 34% less than the average in the United States. The Rent Index is notably low at 12.62, while the Restaurant Price Index is 54.92.

The Property Price to Income Ratio is unavailable. However, the Rent Index is very low at 12.62, suggesting affordable rental options. A significant factor for potential residents is that non-indigenous individuals cannot own property, though they can lease land for long terms.

The Purchasing Power Index is unavailable. The median household income for CNMI residents in 2019 was $31,362, which is significantly lower than the US national average, indicating low purchasing power.

The Northern Mariana Islands operates a 'mirror' tax system to the U.S. federal income tax, with rates ranging from 10% to 37% for 2024. However, residents receive significant rebates: 90% on the first $20,000 of income, 70% on income from $20,000 to $80,000, and 50% on income above $100,000. There is no general sales tax. While some sources mention local property taxes, others state there is no property tax. Businesses are subject to a Gross Revenue Tax (GRT) of generally 5% of gross receipts and excise taxes on imported goods.

Specific ease of doing business rankings are not readily available. The economy has faced challenges, including a decline in tourism and reliance on federal aid, indicating an unsustainable economic model. However, the government is actively working to make regulations more business-friendly and offers investment incentives and tax rebates for certain businesses.

The Northern Mariana Islands Social Security System merged with the U.S. Social Security Administration (SSA) in 1987, making residents eligible for Old-Age, Survivors, and Disability Insurance (OASDI). Unlike most other U.S. territories, residents are also eligible for Supplemental Security Income (SSI). The healthcare system is a mix of public and private providers, with the Commonwealth Healthcare Corporation (CHCC) being the main public entity, and Medicare, Medicaid, and CHIP funding available. However, the CHCC is an underfunded agency, and patients often require off-island referrals for specialty care. The CNMI does not have a permanent local unemployment insurance system, though federal pandemic unemployment assistance programs were implemented during COVID-19.

Deposits in U.S.-chartered banks operating in the Northern Mariana Islands are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor. While there have been past concerns regarding government deposits in non-FDIC insured banks, efforts have been made to ensure federal insurance coverage. The banking sector generally aligns with U.S. federal financial regulations and oversight.