Deephaven 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.
IndexDeephavenMinnesotaNational
Cost of living index150102100
IndexDeephavenMinnesotaNational
Goods & Services index110107100
Groceries index105107100
Health care index103108100
Housing index256101100
Transportation index10198100
Utilities index9387100
A general overview of the cost of living index for Deephaven, MN is displayed above. In Deephaven, MN, the overall cost of living index is 150, which is 47% higher than the Minnesota average and 50% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Deephaven, MN, the city's goods and services are 3% higher than the Minnesota average and 10% higher than the U.S. average.

Did you know?

  • The cost of living in Deephaven is 47% higher than the Minnesota average.
  • The cost of living in Deephaven is 50% higher than the national average.
  • The cost of housing in Deephaven is 156% higher 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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Compare Deephaven, MN Cost of living To Other Cities

Salary Calculator

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Health care index
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Using the salary calculator lets you compare the salary you earn in Deephaven, MN to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Deephaven, MN, you have to earn a higher income in order to still have the same standard of living. To operate the Deephaven, MN salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$135,405$11,284$3,159$4,063
Renters$104,643$8,720$2,442$3,140
If you want to find a good determining factor for the cost of living and the general affordability of housing in Deephaven, MN, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Deephaven, MN, the median monthly income is $135,405 for those who own their own homes. Under the standard rule, that income level would allow for $3,159 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $104,643, per the median income in the area. That would allow for renters to spend up to $2,442 on monthly rental expenses.

Minnesota Sales Tax

StateGeneral Sales TaxWith Max Surtax
Minnesota6.875%7.875%

Minnesota Income Tax

StateIncome Tax (Low)Income Tax (High)
Minnesota5.35%9.85%
When assessing the complete cost of living in Deephaven, MN, the Minnesota income tax and the Minnesota sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Minnesota maximum surtax is 7.875%, and the Minnesota sales tax is 6.875%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5.35% to 9.85% in Minnesota.

Goods & Services

ItemDeephavenNational avg.Difference
Haircut $22.60$14.5954.9%
Beauty Salon $33.37$34.683.8%
Toothpaste $3.44$2.4739.1%
Shampoo $1.05$1.022.7%
Movie $9.80$9.870.7%
Bowling $4.06$4.397.6%

Groceries

ItemDeephavenNational avg.Difference
Ground Beef $3.63$4.4818.9%
Fried Chicken $1.85$1.4626.4%
Milk $2.33$2.361.1%
Potatoes $3.12$3.061.9%
Pizza $10.58$9.2414.5%
Beer $8.48$8.631.8%

Health Care

ItemDeephavenNational avg.Difference
Optometrist $82.75$99.7817.1%
Doctor $133.63$105.0327.2%
Dentist $84.81$88.704.4%
Ibuprofen $11.66$9.4123.9%
Lipitor $252.50$298.5015.4%

Housing

ItemDeephavenNational avg.Difference
Home Price $548,700.00$175,700.00212.3%
Avg. Mortgage Payment $1,221.08$1,081.0313.0%
Apartment Rent $1,139.00$920.0023.8%

Transportation

ItemDeephavenNational avg.Difference
Gasoline $1.96$2.096.3%
Tire Balancing $54.71$45.2920.8%

Utilities

ItemDeephavenNational avg.Difference
All Electricity$163.14$170.804.5%
Phone $24.99$28.2611.6%
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, StatePopulationCost of Living IndexNational Avg.
Hilltop, MN82881-19%
Brooklyn Center, MN30,54998-2%
Columbia Heights, MN19,6051011%
Osseo, MN2,4801011%
Spring Lake Park, MN6,5031011%
Deephaven, MN3,74115050%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
St. James City, FL3,7411044%
Aumsville, OR3,74011111%
Millvale, PA3,74086-14%
Leo-Cedarville, IN3,74294-6%
Grantley, PA3,74211414%
Deephaven, MN3,74115050%
Source: The Deephaven, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.