D-
9%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
40%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index St. Michael Minnesota National
Cost of living10999100
Goods & Services95100100
Groceries9798100
Health care101109100
Housing140100100
Transportation9797100
Utilities9593100

An Overview of Cost of Living in St. Michael, MN

Are you thinking about relocating, but curious about the potential cost of living in St. Michael? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in St. Michael stands at 109, making it 9% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in St. Michael aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. St. Michael residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

When it comes to the cost of living in St. Michael, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 40.3% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is St. Michael Affordable?

Is St. Michael an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in St. Michael is 55.8% higher than the national average, while the average monthly rent prices are 4.2% higher than average. The affordability of any location can also be influenced by median income levels. St. Michael has a median household income of $109,487, which is 97.9% higher than the national average.

What Factors can Influence the Cost of Living in St. Michael?

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In St. Michael, the standard sales tax rate starts at 6.875%, and the income tax rates commence at 5.35%.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.

Where is the Data From?

The cost of living data in St. Michael displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in St. Michael is 10% higher than the Minnesota average
  • The cost of living in St. Michael is 9% higher than the national average
  • St. Michael housing is 40% higher than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 137% higher than the national average

Most Affordable Places to Live in and Around St. Michael

See all the best places to live around St. Michael

Compare St. Michael, MN Cost of Living

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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
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$112,933$9,411$2,635$3,388
      Renters$36,701$3,058$856$1,101
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in St. Michael, MN, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for St. Michael homeowners, is $112,933. This would allow for a maximum of $2,635 per month to be spent on housing costs. For renters, the median monthly income is $36,701 which would result in a maximum of $856 to be spent on rental costs.

      Minnesota Sales Tax

      State General Sales Tax With Max Surtax
      Minnesota 6.875% 7.875%

      Minnesota Income Tax

      State Income Tax (Low) Income Tax (High)
      Minnesota 5.35% 9.85%

      Goods & Services

      Item St. Michael National avg. Difference
      Haircut $25.86$24.266.6%
      Beauty Salon $37.00$45.5618.8%
      Toothpaste $3.62$3.702.2%
      Shampoo $1.50$1.2816.9%
      Movie $11.32$12.136.7%
      Bowling $25.68$18.0042.6%

      Groceries

      Item St. Michael National avg. Difference
      Ground Beef $5.75$5.841.4%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.60$4.671.5%
      Potatoes $4.76$4.933.5%
      Pizza $13.00$12.097.6%
      Beer $9.44$10.419.3%

      Health Care

      Item St. Michael National avg. Difference
      Optometrist $112.72$125.6810.3%
      Doctor $164.15$135.7820.9%
      Dentist $95.01$113.2916.1%
      Ibuprofen $10.71$10.650.6%
      Lipitor $499.35$468.606.6%

      Housing

      Item St. Michael National avg. Difference
      Home Price $287,700.00$184,700.0055.8%
      Avg. Mortgage Payment $1,983.77$2,346.6915.5%
      Apartment Rent $989.00$949.004.2%

      Transportation

      Item St. Michael National avg. Difference
      Gasoline $3.32$3.464.0%
      Tire Balancing $59.91$59.920.0%

      Utilities

      Item St. Michael National avg. Difference
      All Electricity $180.11$193.997.2%
      Phone $187.59$192.252.4%
      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 Population Cost of Living Index National Avg.
      Silver Creek, MN1971022.1%
      Becker, MN4,9191032.9%
      Big Lake CDP, MN3751033.0%
      Montrose, MN3,505991.4%
      Rockford, MN4,481991.0%
      St. Michael, MN17,8711099.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      North Babylon, NY17,87213938.7%
      Dover, NJ17,86611514.8%
      Canby, OR17,86012827.8%
      Steubenville, OH17,8828712.6%
      Scarsdale, NY17,890279179.4%
      St. Michael, MN17,8711099.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.