North Oaks 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.
IndexNorth OaksMinnesotaNational
Cost of living index154102100
IndexNorth OaksMinnesotaNational
Goods & Services index108106100
Groceries index104105100
Health care index106110100
Housing index270101100
Transportation index9798100
Utilities index9491100
Here we can see a simple outline of the cost of living in North Oaks, MN. As you can see, with the average cost of living in North Oaks, MN being 154, that puts it 50% higher than the average of Minnesota and 54% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of North Oaks, MN, the price of goods and services are 1% higher than the average of Minnesota as well as 8% higher than the nation's average.

Did you know?

  • The cost of living in North Oaks is 50% higher than the Minnesota average.
  • The cost of living in North Oaks is 54% higher than the national average.
  • The cost of housing in North Oaks is 170% 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 North Oaks, MN Cost of living To Other Cities

Salary Calculator

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Groceries index
Health care index
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Transportation index
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The salary calculator is used in order to provide a comparison of your current salary in North Oaks, MN to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to North Oaks, MN, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the North Oaks, MN salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$187,697$15,641$4,379$5,631
Renters$34,167$2,847$797$1,025
The affordability of the housing market in North Oaks, 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 North Oaks, MN homeowners, the median income is $187,697. This indicates that a monthly maximum of $4,379 should be spent by homeowners on all housing related costs. Renters have a median income of $34,167. This indicates that renters should have a maximum of $797 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%
For those who live in North Oaks, 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

ItemNorth OaksNational 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

ItemNorth OaksNational 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

ItemNorth OaksNational 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

ItemNorth OaksNational avg.Difference
Home Price $514,300.00$175,700.00192.7%
Avg. Mortgage Payment $1,182.68$1,133.234.4%
Apartment Rent $2,001.00$920.00117.5%

Transportation

ItemNorth OaksNational avg.Difference
Gasoline $1.85$1.997.0%
Tire Balancing $48.94$45.767.0%

Utilities

ItemNorth OaksNational 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%
Hilltop, MN82881-19%
Brooklyn Center, MN30,54998-2%
Lexington, MN2,01999-1%
Columbia Heights, MN19,6051000%
North Oaks, MN4,61715454%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Windom, MN4,61687-13%
Montoursville, PA4,61696-4%
Jackson, CA4,61611414%
Dansville, NY4,61889-11%
Boiling Springs, NC4,61992-8%
North Oaks, MN4,61715454%
Source: The North Oaks, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.