Otsego 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.
Cost of living index107102100
Goods & Services index110107100
Groceries index105107100
Health care index103108100
Housing index110101100
Transportation index10198100
Utilities index9387100
An overview of the general cost of living index for Otsego, MN is displayed above for your reference. Residents in Otsego, MN enjoy a cost of living index of 107. This index is 4% higher than the Minnesota average, and 7% 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 Otsego, MN, the average cost of goods and services is 3% higher than it is in Minnesota, and it is 10% higher than the national average.

Did you know?

  • The cost of living in Otsego is 4% higher than the Minnesota average.
  • The cost of living in Otsego is 7% higher than the national average.
  • The cost of housing in Otsego is 10% 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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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
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The salary calculator is used in order to provide a comparison of your current salary in Otsego, 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 Otsego, MN, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Otsego, 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)
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Otsego, 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 Otsego, MN homeowners have a median income of $74,684. Using that number, you will come up with a maximum of $1,743 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $43,682, which means there is a maximum of $1,019 to be spent on the costs of renting a home or apartment.

Minnesota Sales Tax

StateGeneral Sales TaxWith Max Surtax

Minnesota Income Tax

StateIncome Tax (Low)Income Tax (High)
For those who live in Otsego, 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

ItemOtsegoNational avg.Difference
Haircut $22.60$14.5954.9%
Beauty Salon $33.37$34.683.8%
Toothpaste $3.44$2.4739.1%
Shampoo $1.05$1.022.7%
Movie $9.80$9.870.7%
Bowling $4.06$4.397.6%


ItemOtsegoNational avg.Difference
Ground Beef $3.63$4.4818.9%
Fried Chicken $1.85$1.4626.4%
Milk $2.33$2.361.1%
Potatoes $3.12$3.061.9%
Pizza $10.58$9.2414.5%
Beer $8.48$8.631.8%

Health Care

ItemOtsegoNational avg.Difference
Optometrist $82.75$99.7817.1%
Doctor $133.63$105.0327.2%
Dentist $84.81$88.704.4%
Ibuprofen $11.66$9.4123.9%
Lipitor $252.50$298.5015.4%


ItemOtsegoNational avg.Difference
Home Price $180,000.00$175,700.002.4%
Avg. Mortgage Payment $1,221.08$1,081.0313.0%
Apartment Rent $1,188.00$920.0029.1%


ItemOtsegoNational avg.Difference
Gasoline $1.96$2.096.3%
Tire Balancing $54.71$45.2920.8%


ItemOtsegoNational avg.Difference
All Electricity$163.14$170.804.5%
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.
Brooklyn Center, MN30,54998-2%
Montrose, MN2,95298-2%
Big Lake, MN29897-3%
Zimmerman, MN5,26897-3%
Osseo, MN2,4801011%
Otsego, MN14,2571077%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Ammon, ID14,25791-9%
Miami Springs, FL14,25511818%
Clemson, SC14,25497-3%
Hartford, WI14,25199-1%
Reidsville, NC14,24993-7%
Otsego, MN14,2571077%
Source: The Otsego, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.