Ramsey 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.
IndexRamseyMinnesotaNational
Cost of living index111102100
IndexRamseyMinnesotaNational
Goods & Services index108106100
Groceries index106105100
Health care index106110100
Housing index125101100
Transportation index10198100
Utilities index9691100
An overview of the general cost of living index for Ramsey, MN is displayed above for your reference. Residents in Ramsey, MN enjoy a cost of living index of 111. This index is 8% higher than the Minnesota average, and 11% 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 Ramsey, MN, the average cost of goods and services is 1% higher than it is in Minnesota, and it is 8% higher than the national average.

Did you know?

  • The cost of living in Ramsey is 8% higher than the Minnesota average.
  • The cost of living in Ramsey is 11% higher than the national average.
  • The cost of housing in Ramsey is 25% 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

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Health care index
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The salary calculator is meant to help you compare your salary in Ramsey, MN to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Ramsey, MN, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Ramsey, MN salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$88,508$7,376$2,065$2,656
Renters$60,317$5,026$1,407$1,810
One can approximate the cost of living and the housing affordability in Ramsey, MN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Ramsey, MN have a median income of $88,508. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,065 per month to avoid calamity and poverty. The renters in the city have an income of about $60,317, which would make their monthly maximum allowable rental costs $1,407.

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 you are determining the total cost of living in Ramsey, MN you will want to make sure you consider both the Minnesota sales tax and the Minnesota income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Minnesota is 6.875%, with the highest surtax being 7.875%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Minnesota have a range from 5.35% to 9.85%.

Goods & Services

ItemRamseyNational avg.Difference
Haircut $24.24$15.5655.8%
Beauty Salon $34.24$36.115.2%
Toothpaste $3.32$2.4734.4%
Shampoo $1.04$0.967.4%
Movie $9.88$10.132.4%
Bowling $4.12$4.7413.1%

Groceries

ItemRamseyNational avg.Difference
Ground Beef $4.14$3.984.0%
Fried Chicken $2.00$1.4142.1%
Milk $2.23$2.068.1%
Potatoes $3.30$2.9810.5%
Pizza $10.53$9.4711.1%
Beer $8.81$8.790.2%

Health Care

ItemRamseyNational avg.Difference
Optometrist $81.38$101.0419.5%
Doctor $133.98$107.4424.7%
Dentist $85.91$90.425.0%
Ibuprofen $11.82$9.2827.4%
Lipitor $416.78$426.502.3%

Housing

ItemRamseyNational avg.Difference
Home Price $202,300.00$175,700.0015.1%
Avg. Mortgage Payment $1,198.63$1,133.235.8%
Apartment Rent $1,351.00$920.0046.8%

Transportation

ItemRamseyNational avg.Difference
Gasoline $1.84$1.997.7%
Tire Balancing $55.26$45.7620.8%

Utilities

ItemRamseyNational avg.Difference
All Electricity$167.80$163.812.4%
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.
Hilltop, MN82881-19%
Brooklyn Center, MN30,54998-2%
Big Lake, MN29897-3%
Zimmerman, MN5,26897-3%
Lexington, MN2,01999-1%
Ramsey, MN24,44111111%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
San Benito, TX24,44770-30%
Loves Park, IL24,43588-12%
Lodi, NJ24,42813131%
Starkville, MS24,45788-12%
Marshall, TX24,42481-19%
Ramsey, MN24,44111111%
Source: The Ramsey, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.