Cost Of Living In Albany, MN

Albany cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Albany	Minnesota	National
Cost of living index	95	102	100
Index	Albany	Minnesota	National
Goods & Services index	103	106	100
Groceries index	110	105	100
Health care index	113	110	100
Housing index	79	101	100
Transportation index	103	98	100
Utilities index	85	91	100

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The cost of living in Albany is 7% lower than the Minnesota average.
The cost of living in Albany is 5% lower than the national average.
The cost of housing in Albany is 21% lower than the national average.
Minnesota general sales tax is 35% higher than the national average.
Minnesota state income tax is 141% higher than the national average.

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$70,045	$5,837	$1,634	$2,102
Renters	$22,083	$1,840	$515	$663

Minnesota Sales Tax

State	General Sales Tax	With Max Surtax
Minnesota	6.875%	7.875%

Minnesota Income Tax

State	Income Tax (Low)	Income Tax (High)
Minnesota	5.35%	9.85%

Goods & Services

Item	Albany	National avg.	Difference
Haircut	$21.91	$15.56	40.8%
Beauty Salon	$31.17	$36.11	13.7%
Toothpaste	$3.64	$2.47	47.2%
Shampoo	$1.19	$0.96	23.3%
Movie	$10.04	$10.13	0.9%
Bowling	$4.29	$4.74	9.4%

Groceries

Item	Albany	National avg.	Difference
Ground Beef	$5.28	$3.98	32.5%
Fried Chicken	$2.27	$1.41	61.2%
Milk	$2.45	$2.06	18.8%
Potatoes	$2.45	$2.98	17.7%
Pizza	$8.10	$9.47	14.5%
Beer	$9.08	$8.79	3.3%

Health Care

Item	Albany	National avg.	Difference
Optometrist	$121.76	$101.04	20.5%
Doctor	$164.95	$107.44	53.5%
Dentist	$87.93	$90.42	2.7%
Ibuprofen	$9.49	$9.28	2.2%
Lipitor	$392.82	$426.50	7.9%

Housing

Item	Albany	National avg.	Difference
Home Price	$141,100.00	$175,700.00	19.7%
Avg. Mortgage Payment	$891.28	$1,133.23	21.4%
Apartment Rent	$691.00	$920.00	24.9%

Transportation

Item	Albany	National avg.	Difference
Gasoline	$1.94	$1.99	2.8%
Tire Balancing	$52.70	$45.76	15.2%

Utilities

Item	Albany	National avg.	Difference
All Electricity	$169.36	$163.81	3.4%
Phone	$17.02	$28.39	40.0%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Lake Henry, MN	87	85	-15%
St. Anthony city (Stearns County), MN	98	86	-14%
Elmdale, MN	91	87	-13%
Grey Eagle, MN	453	87	-13%
Roscoe, MN	94	88	-12%
Albany, MN	2,599	95	-5%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
West Newton, PA	2,599	83	-17%
Durant, MS	2,598	76	-24%
Wimberley, TX	2,600	101	1%
Howe, TX	2,600	79	-21%
Carthage, IL	2,600	79	-21%
Albany, MN	2,599	95	-5%

Source: The Albany, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Albany, MN Cost of Living