Montgomery 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.
IndexMontgomeryMinnesotaNational
Cost of living index89102100
IndexMontgomeryMinnesotaNational
Goods & Services index104107100
Groceries index105107100
Health care index111108100
Housing index65101100
Transportation index9898100
Utilities index7687100

Did you know?

  • The cost of living in Montgomery is 13% lower than the Minnesota average.
  • The cost of living in Montgomery is 11% lower than the national average.
  • The cost of housing in Montgomery is 35% 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.

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$55,703$4,642$1,300$1,671
Renters$27,625$2,302$645$829

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%

Goods & Services

ItemMontgomeryNational avg.Difference
Haircut $18.25$14.5925.1%
Beauty Salon $25.50$34.6826.5%
Toothpaste $1.79$2.4727.6%
Shampoo $0.92$1.0210.0%
Movie $9.25$9.876.3%
Bowling $3.50$4.3920.3%

Groceries

ItemMontgomeryNational avg.Difference
Ground Beef $4.88$4.489.0%
Fried Chicken $2.09$1.4642.8%
Milk $2.29$2.362.8%
Potatoes $2.79$3.068.9%
Pizza $12.00$9.2429.8%
Beer $7.76$8.6310.1%

Health Care

ItemMontgomeryNational avg.Difference
Optometrist $76.81$99.7823.0%
Doctor $160.37$105.0352.7%
Dentist $92.75$88.704.6%
Ibuprofen $8.15$9.4113.4%
Lipitor $266.68$298.5010.7%

Housing

ItemMontgomeryNational avg.Difference
Home Price $113,500.00$175,700.0035.4%
Avg. Mortgage Payment $929.86$1,081.0314.0%
Apartment Rent $606.00$920.0034.1%

Transportation

ItemMontgomeryNational avg.Difference
Gasoline $1.98$2.095.4%
Tire Balancing $48.00$45.296.0%

Utilities

ItemMontgomeryNational avg.Difference
All Electricity$148.78$170.8012.9%
Phone $17.01$28.2639.8%
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.
Kilkenny, MN29088-12%
Le Center, MN2,29290-10%
Cleveland, MN61193-7%
Faribault, MN23,46095-5%
Belle Plaine, MN6,79497-3%
Montgomery, MN2,93589-11%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Dennis Port, MA2,93613030%
Shady Cove, OR2,93611515%
Ruleville, MS2,93477-23%
Lake Delton, WI2,93696-4%
Leesburg, GA2,93691-9%
Montgomery, MN2,93589-11%
Source: The Montgomery, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.