Falcon Heights 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.
IndexFalcon HeightsMinnesotaNational
Cost of living index114102100
IndexFalcon HeightsMinnesotaNational
Goods & Services index109107100
Groceries index105107100
Health care index103108100
Housing index138101100
Transportation index10298100
Utilities index9187100
Displayed above is a general overview of the Falcon Heights, MN cost of living index. The overall cost of living index in Falcon Heights, MN is 114, which is 12% higher than the Minnesota average and 14% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Falcon Heights, MN are 2% higher than the Minnesota average and 9% higher than the national average.

Did you know?

  • The cost of living in Falcon Heights is 12% higher than the Minnesota average.
  • The cost of living in Falcon Heights is 14% higher than the national average.
  • The cost of housing in Falcon Heights is 38% 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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Salary Calculator

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Use the salary calculator to compare your current salary in Falcon Heights, MN to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Falcon Heights, MN, then you would need to earn more income in order to maintain the same standard of living. To use the Falcon Heights, MN salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$106,100$8,842$2,476$3,183
Renters$36,027$3,002$841$1,081
One can approximate the cost of living and the housing affordability in Falcon Heights, 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 Falcon Heights, MN have a median income of $106,100. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,476 per month to avoid calamity and poverty. The renters in the city have an income of about $36,027, which would make their monthly maximum allowable rental costs $841.

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%
For those who live in Falcon Heights, MN and want to know what the true cost of living is, they ought to look at both the Minnesota income tax rate and the Minnesota sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Minnesota, the sales tax is 6.875%, while the most you'll pay in surtax is 7.875%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Minnesota, the income tax rate ranges between 5.35% to 9.85%.

Goods & Services

ItemFalcon HeightsNational avg.Difference
Haircut $22.74$14.5955.8%
Beauty Salon $33.43$34.683.6%
Toothpaste $3.44$2.4739.1%
Shampoo $1.05$1.022.7%
Movie $9.88$9.870.1%
Bowling $4.16$4.395.3%

Groceries

ItemFalcon HeightsNational avg.Difference
Ground Beef $3.76$4.4816.0%
Fried Chicken $1.92$1.4631.1%
Milk $2.24$2.365.0%
Potatoes $3.22$3.065.2%
Pizza $10.57$9.2414.4%
Beer $8.66$8.630.3%

Health Care

ItemFalcon HeightsNational avg.Difference
Optometrist $81.89$99.7817.9%
Doctor $131.17$105.0324.9%
Dentist $86.82$88.702.1%
Ibuprofen $11.79$9.4125.3%
Lipitor $250.88$298.5016.0%

Housing

ItemFalcon HeightsNational avg.Difference
Home Price $275,500.00$175,700.0056.8%
Avg. Mortgage Payment $1,173.84$1,081.038.6%
Apartment Rent $854.00$920.007.2%

Transportation

ItemFalcon HeightsNational avg.Difference
Gasoline $1.97$2.095.8%
Tire Balancing $55.48$45.2922.5%

Utilities

ItemFalcon HeightsNational avg.Difference
All Electricity$158.73$170.807.1%
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.
Landfall, MN79679-21%
Hilltop, MN82881-19%
Brooklyn Center, MN30,54998-2%
St. Paul Park, MN5,32799-1%
Lexington, MN2,019100-0%
Falcon Heights, MN5,43911414%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Spring Valley, IL5,44188-12%
Nephi, UT5,44296-4%
Eastman, GA5,44283-17%
Mount Carmel, TN5,44390-10%
Cameron, TX5,44579-21%
Falcon Heights, MN5,43911414%
Source: The Falcon Heights, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.