Shakopee 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 index109102100
Goods & Services index110107100
Groceries index105107100
Health care index103108100
Housing index118101100
Transportation index10198100
Utilities index9387100
Here we can see a simple outline of the cost of living in Shakopee, MN. As you can see, with the average cost of living in Shakopee, MN being 109, that puts it 6% higher than the average of Minnesota and 9% 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 Shakopee, MN, the price of goods and services are 3% higher than the average of Minnesota as well as 10% higher than the nation's average.

Did you know?

  • The cost of living in Shakopee is 6% higher than the Minnesota average.
  • The cost of living in Shakopee is 9% higher than the national average.
  • The cost of housing in Shakopee is 18% 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 Shakopee, MN Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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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 Shakopee, 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 Shakopee, MN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Shakopee, 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)
One can approximate the cost of living and the housing affordability in Shakopee, 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 Shakopee, MN have a median income of $91,639. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,138 per month to avoid calamity and poverty. The renters in the city have an income of about $47,950, which would make their monthly maximum allowable rental costs $1,119.

Minnesota Sales Tax

StateGeneral Sales TaxWith Max Surtax

Minnesota Income Tax

StateIncome Tax (Low)Income Tax (High)
The Minnesota sales tax and Minnesota income tax rates should definitely be considered when determining the overall cost of living in Shakopee, MN. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Minnesota sales tax is 6.875% and the maximum surtax is 7.875%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Minnesota income tax rates range from 5.35% to 9.85%.

Goods & Services

ItemShakopeeNational 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%


ItemShakopeeNational 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

ItemShakopeeNational 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%


ItemShakopeeNational avg.Difference
Home Price $210,700.00$175,700.0019.9%
Avg. Mortgage Payment $1,221.08$1,081.0313.0%
Apartment Rent $1,047.00$920.0013.8%


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


ItemShakopeeNational 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.
Belle Plaine, MN6,79497-3%
Cologne, MN1,5641033%
Richfield, MN35,8771044%
Mound, MN9,2051055%
Maple Plain, MN1,7651066%
Shakopee, MN38,6131099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Sun City, AZ38,62289-11%
Annapolis, MD38,59912727%
Bentonville, AR38,57293-7%
Bremerton, WA38,66411010%
Cape Girardeau, MO38,66592-8%
Shakopee, MN38,6131099%
Source: The Shakopee, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.