Eveleth 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.
IndexEvelethMinnesotaNational
Cost of living index85102100
IndexEvelethMinnesotaNational
Goods & Services index103106100
Groceries index110105100
Health care index113110100
Housing index47101100
Transportation index10398100
Utilities index8591100
A general overview of the cost of living index for Eveleth, MN is displayed above. In Eveleth, MN, the overall cost of living index is 85, which is 16% lower than the Minnesota average and 15% lower 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 Eveleth, MN, the city's goods and services are 3% lower than the Minnesota average and 3% higher than the U.S. average.

Did you know?

  • The cost of living in Eveleth is 16% lower than the Minnesota average.
  • The cost of living in Eveleth is 15% lower than the national average.
  • The cost of housing in Eveleth is 53% 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.

Find Real Estate Listings In Eveleth

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Eveleth

Compare Eveleth, MN Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is meant to help you compare your salary in Eveleth, MN to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Eveleth, MN, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Eveleth, MN salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$48,934$4,078$1,142$1,468
Renters$25,650$2,138$598$770
One can approximate the cost of living and the housing affordability in Eveleth, MN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Eveleth, MN have a median income of $48,934. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,142 per month to avoid calamity and poverty. The renters in the city have an income of about $25,650, which would make their monthly maximum allowable rental costs $598.

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%
The Minnesota sales tax and Minnesota income tax rates should definitely be considered when determining the overall cost of living in Eveleth, MN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Minnesota sales tax is 6.875% and the maximum surtax is 7.875%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Minnesota income tax rates range from 5.35% to 9.85%.

Goods & Services

ItemEvelethNational avg.Difference
Haircut $21.91$15.5640.8%
Beauty Salon $31.17$36.1113.7%
Toothpaste $3.64$2.4747.2%
Shampoo $1.19$0.9623.3%
Movie $10.04$10.130.9%
Bowling $4.29$4.749.4%

Groceries

ItemEvelethNational avg.Difference
Ground Beef $5.28$3.9832.5%
Fried Chicken $2.27$1.4161.2%
Milk $2.45$2.0618.8%
Potatoes $2.45$2.9817.7%
Pizza $8.10$9.4714.5%
Beer $9.08$8.793.3%

Health Care

ItemEvelethNational avg.Difference
Optometrist $121.76$101.0420.5%
Doctor $164.95$107.4453.5%
Dentist $87.93$90.422.7%
Ibuprofen $9.49$9.282.2%
Lipitor $392.82$426.507.9%

Housing

ItemEvelethNational avg.Difference
Home Price $67,100.00$175,700.0061.8%
Avg. Mortgage Payment $891.28$1,133.2321.4%
Apartment Rent $610.00$920.0033.7%

Transportation

ItemEvelethNational avg.Difference
Gasoline $1.94$1.992.8%
Tire Balancing $52.70$45.7615.2%

Utilities

ItemEvelethNational avg.Difference
All Electricity$169.36$163.813.4%
Phone $17.02$28.3940.0%
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, StatePopulationCost of Living IndexNational Avg.
McKinley, MN10282-18%
Kinney, MN17083-17%
Aurora, MN1,58785-15%
Leonidas, MN5985-15%
Iron Junction, MN9386-14%
Eveleth, MN3,70885-15%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
South Eliot, ME3,70812929%
Wingate, NC3,70891-9%
Smithton, IL3,70695-5%
Lopezville, TX3,71168-32%
Saw Creek, PA3,7111033%
Eveleth, MN3,70885-15%
Source: The Eveleth, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.