The Lakes 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.
IndexThe LakesMinnesotaNational
Cost of living index117102100
IndexThe LakesMinnesotaNational
Goods & Services index104107100
Groceries index105107100
Health care index111108100
Housing index157101100
Transportation index9898100
Utilities index7687100

Did you know?

  • The cost of living in The Lakes is 14% higher than the Minnesota average.
  • The cost of living in The Lakes is 17% higher than the national average.
  • The cost of housing in The Lakes is 57% 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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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$70,750$5,896$1,651$2,123
Renters$37,000$3,083$863$1,110

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%

Goods & Services

ItemThe LakesNational avg.Difference
Haircut $18.25$14.5925.1%
Beauty Salon $25.50$34.6826.5%
Toothpaste $1.79$2.4727.6%
Shampoo $0.92$1.0210.0%
Movie $9.25$9.876.3%
Bowling $3.50$4.3920.3%

Groceries

ItemThe LakesNational avg.Difference
Ground Beef $4.88$4.489.0%
Fried Chicken $2.09$1.4642.8%
Milk $2.29$2.362.8%
Potatoes $2.79$3.068.9%
Pizza $12.00$9.2429.8%
Beer $7.76$8.6310.1%

Health Care

ItemThe LakesNational avg.Difference
Optometrist $76.81$99.7823.0%
Doctor $160.37$105.0352.7%
Dentist $92.75$88.704.6%
Ibuprofen $8.15$9.4113.4%
Lipitor $266.68$298.5010.7%

Housing

ItemThe LakesNational avg.Difference
Home Price $276,100.00$175,700.0057.1%
Avg. Mortgage Payment $929.86$1,081.0314.0%
Apartment Rent $0.00$920.00100.0%

Transportation

ItemThe LakesNational avg.Difference
Gasoline $1.98$2.095.4%
Tire Balancing $48.00$45.296.0%

Utilities

ItemThe LakesNational avg.Difference
All Electricity$148.78$170.8012.9%
Phone $17.01$28.2639.8%
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.
Dovray, MN7275-25%
Avoca, MN9577-23%
Hadley, MN5177-23%
Garvin, MN12080-20%
Walnut Grove, MN99780-20%
The Lakes, MN66911717%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Salvisa, KY66984-16%
Wauzeka, WI66987-13%
Fort Towson, OK66989-11%
Worthington, PA66989-11%
Lake Benton, MN66983-17%
The Lakes, MN66911717%
Source: The The Lakes, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.