Inver Grove 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.
IndexInver Grove HeightsMinnesotaNational
Cost of living index107102100
IndexInver Grove HeightsMinnesotaNational
Goods & Services index108106100
Groceries index104105100
Health care index106110100
Housing index114101100
Transportation index9798100
Utilities index9491100
A general summary of the cost of living index in Inver Grove Heights, MN is shown above. Compared to the state average of Minnesota the cost of living index in Inver Grove Heights, MN is 107, which is 4% higher than the average in Minnesota and compared to the national average it is 7% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Inver Grove Heights, MN goods and services come in at 1% higher than the average in Minnesota and are 8% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Inver Grove Heights is 4% higher than the Minnesota average.
  • The cost of living in Inver Grove Heights is 7% higher than the national average.
  • The cost of housing in Inver Grove Heights is 14% 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 Inver Grove Heights, MN Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Inver Grove Heights, 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 Inver Grove Heights, MN, you have to earn a higher income in order to still have the same standard of living. To operate the Inver Grove Heights, 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$79,391$6,616$1,852$2,382
Renters$40,630$3,386$948$1,219
The affordability of the housing market in Inver Grove Heights, MN as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Inver Grove Heights, MN homeowners, the median income is $79,391. This indicates that a monthly maximum of $1,852 should be spent by homeowners on all housing related costs. Renters have a median income of $40,630. This indicates that renters should have a maximum of $948 used for their rent related monthly costs.

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%
One thing to keep in mind when considering the cost of living in Inver Grove Heights, MN is the Minnesota sales tax and Minnesota income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The Minnesota sales tax rate is 6.875% and the maximum surtax that can be charged is 7.875%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The Minnesota income tax rates range from 5.35% to 9.85%.

Goods & Services

ItemInver Grove HeightsNational avg.Difference
Haircut $24.91$15.5660.0%
Beauty Salon $33.76$36.116.5%
Toothpaste $3.41$2.4737.8%
Shampoo $1.04$0.967.8%
Movie $9.85$10.132.8%
Bowling $4.06$4.7414.2%

Groceries

ItemInver Grove HeightsNational avg.Difference
Ground Beef $4.07$3.982.2%
Fried Chicken $1.94$1.4137.9%
Milk $2.17$2.065.0%
Potatoes $3.19$2.987.0%
Pizza $10.59$9.4711.8%
Beer $8.92$8.791.4%

Health Care

ItemInver Grove HeightsNational avg.Difference
Optometrist $81.20$101.0419.6%
Doctor $134.89$107.4425.5%
Dentist $87.31$90.423.4%
Ibuprofen $11.78$9.2827.0%
Lipitor $406.73$426.504.6%

Housing

ItemInver Grove HeightsNational avg.Difference
Home Price $205,100.00$175,700.0016.7%
Avg. Mortgage Payment $1,182.68$1,133.234.4%
Apartment Rent $975.00$920.006.0%

Transportation

ItemInver Grove HeightsNational avg.Difference
Gasoline $1.85$1.997.0%
Tire Balancing $48.94$45.767.0%

Utilities

ItemInver Grove HeightsNational avg.Difference
All Electricity$162.69$163.810.7%
Phone $24.99$28.3912.0%
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.
Landfall, MN79678-22%
St. Paul Park, MN5,32799-1%
Newport, MN3,455100-0%
South St. Paul, MN20,368100-0%
Crystal, MN22,4591011%
Inver Grove Heights, MN34,2581077%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Carrollwood, FL34,254100-0%
Hinesville, GA34,25394-6%
Bettendorf, IA34,24797-3%
Upper Arlington, OH34,19111515%
Prattville, AL34,34994-6%
Inver Grove Heights, MN34,2581077%
Source: The Inver Grove Heights, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.