Oak Park 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.
IndexOak Park HeightsMinnesotaNational
Cost of living index110102100
IndexOak Park HeightsMinnesotaNational
Goods & Services index109107100
Groceries index105107100
Health care index103108100
Housing index124101100
Transportation index10298100
Utilities index9187100
Here we can see a simple outline of the cost of living in Oak Park Heights, MN. As you can see, with the average cost of living in Oak Park Heights, MN being 110, that puts it 8% higher than the average of Minnesota and 10% 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 Oak Park Heights, MN, the price of goods and services are 2% higher than the average of Minnesota as well as 9% higher than the nation's average.

Did you know?

  • The cost of living in Oak Park Heights is 8% higher than the Minnesota average.
  • The cost of living in Oak Park Heights is 10% higher than the national average.
  • The cost of housing in Oak Park Heights is 24% 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.

Find Real Estate Listings In Oak Park Heights

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Oak Park Heights

Compare Oak Park Heights, MN Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Oak Park Heights, MN would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Oak Park Heights, MN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Oak Park Heights, MN salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$77,237$6,436$1,802$2,317
Renters$27,111$2,259$633$813
If you want to find a good determining factor for the cost of living and the general affordability of housing in Oak Park Heights, MN, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Oak Park Heights, MN, the median monthly income is $77,237 for those who own their own homes. Under the standard rule, that income level would allow for $1,802 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $27,111, per the median income in the area. That would allow for renters to spend up to $633 on monthly rental expenses.

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%
When considering the overall cost of living expenses in Oak Park Heights, MN, it's important to take into account the sales tax for Minnesota, as well as the rate for income tax in Minnesota. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Minnesota is 7.875%, and the sales tax in the state of Minnesota is 6.875%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Minnesota starts from 5.35% and goes up to 9.85%.

Goods & Services

ItemOak Park 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

ItemOak Park 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

ItemOak Park 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

ItemOak Park HeightsNational avg.Difference
Home Price $215,400.00$175,700.0022.6%
Avg. Mortgage Payment $1,173.84$1,081.038.6%
Apartment Rent $1,175.00$920.0027.7%

Transportation

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

Utilities

ItemOak Park 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%
Star Prairie, WI63297-3%
Somerset, WI2,65597-3%
New Richmond, WI8,50198-2%
St. Paul Park, MN5,32799-1%
Oak Park Heights, MN4,67111010%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Lake Worth, TX4,67192-8%
Wilton, CA4,67013535%
Prairie Grove, AR4,67089-11%
Mount Ephraim, NJ4,66911212%
Yosemite Lakes, CA4,66811717%
Oak Park Heights, MN4,67111010%
Source: The Oak Park 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.