Hermantown 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.
IndexHermantownMinnesotaNational
Cost of living index108102100
IndexHermantownMinnesotaNational
Goods & Services index104107100
Groceries index114107100
Health care index114108100
Housing index122101100
Transportation index9298100
Utilities index8987100
An overview of the general cost of living index for Hermantown, MN is displayed above for your reference. Residents in Hermantown, MN enjoy a cost of living index of 108. This index is 6% higher than the Minnesota average, and 8% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Hermantown, MN, the average cost of goods and services is 3% lower than it is in Minnesota, and it is 4% higher than the national average.

Did you know?

  • The cost of living in Hermantown is 6% higher than the Minnesota average.
  • The cost of living in Hermantown is 8% higher than the national average.
  • The cost of housing in Hermantown is 22% 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 Hermantown, MN Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Using the salary calculator lets you compare the salary you earn in Hermantown, 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 Hermantown, MN, you have to earn a higher income in order to still have the same standard of living. To operate the Hermantown, 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$85,186$7,099$1,988$2,556
Renters$29,358$2,447$685$881
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Hermantown, MN, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Hermantown, MN homeowners have a median income of $85,186. Using that number, you will come up with a maximum of $1,988 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $29,358, which means there is a maximum of $685 to be spent on the costs of renting a home or apartment.

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 Hermantown, 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

ItemHermantownNational avg.Difference
Haircut $21.63$14.5948.2%
Beauty Salon $29.50$34.6814.9%
Toothpaste $3.02$2.4722.1%
Shampoo $1.04$1.021.8%
Movie $10.00$9.871.3%
Bowling $3.98$4.399.4%

Groceries

ItemHermantownNational avg.Difference
Ground Beef $4.94$4.4810.3%
Fried Chicken $1.99$1.4635.9%
Milk $2.64$2.3612.0%
Potatoes $1.99$3.0635.0%
Pizza $8.00$9.2413.4%
Beer $8.99$8.634.1%

Health Care

ItemHermantownNational avg.Difference
Optometrist $120.00$99.7820.3%
Doctor $159.50$105.0351.9%
Dentist $84.75$88.704.5%
Ibuprofen $10.47$9.4111.2%
Lipitor $297.89$298.500.2%

Housing

ItemHermantownNational avg.Difference
Home Price $221,400.00$175,700.0026.0%
Avg. Mortgage Payment $820.96$1,081.0324.1%
Apartment Rent $1,023.00$920.0011.2%

Transportation

ItemHermantownNational avg.Difference
Gasoline $1.92$2.098.2%
Tire Balancing $42.25$45.296.7%

Utilities

ItemHermantownNational avg.Difference
All Electricity$162.93$170.804.6%
Phone $22.89$28.2619.0%
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.
Superior, WI26,93292-8%
Carlton, MN93894-6%
Oliver, WI29594-6%
Mahnomen CDP, MN29992-8%
Cloquet, MN12,06495-5%
Hermantown, MN9,5881088%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Manteno, IL9,5851011%
North Bend, OR9,5911077%
Lake Barcroft, VA9,59216060%
Potsdam, NY9,57797-3%
Merrydale, LA9,60188-12%
Hermantown, MN9,5881088%
Source: The Hermantown, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.