Victoria 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.
IndexVictoriaMinnesotaNational
Cost of living index128102100
IndexVictoriaMinnesotaNational
Goods & Services index110107100
Groceries index105107100
Health care index103108100
Housing index181101100
Transportation index10198100
Utilities index9387100
An overview of the general cost of living index for Victoria, MN is displayed above for your reference. Residents in Victoria, MN enjoy a cost of living index of 128. This index is 25% higher than the Minnesota average, and 28% 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 Victoria, 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 Victoria is 25% higher than the Minnesota average.
  • The cost of living in Victoria is 28% higher than the national average.
  • The cost of housing in Victoria is 81% 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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Use the salary calculator to compare your current salary in Victoria, MN to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Victoria, MN, then you would need to earn more income in order to maintain the same standard of living. To use the Victoria, MN salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$140,136$11,678$3,270$4,205
Renters$54,743$4,562$1,277$1,642
One can approximate the cost of living and the housing affordability in Victoria, 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 Victoria, MN have a median income of $140,136. Therefore, the amount that a consumer should spend on housing costs should be no more than $3,270 per month to avoid calamity and poverty. The renters in the city have an income of about $54,743, which would make their monthly maximum allowable rental costs $1,277.

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%
The Minnesota sales tax and Minnesota income tax rates should definitely be considered when determining the overall cost of living in Victoria, 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

ItemVictoriaNational 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%

Groceries

ItemVictoriaNational 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

ItemVictoriaNational 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%

Housing

ItemVictoriaNational avg.Difference
Home Price $381,800.00$175,700.00117.3%
Avg. Mortgage Payment $1,221.08$1,081.0313.0%
Apartment Rent $884.00$920.003.9%

Transportation

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

Utilities

ItemVictoriaNational 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.
Montrose, MN2,95298-2%
Hamburg, MN50099-1%
Norwood Young America, MN3,617100-0%
Watertown, MN4,243100-0%
Crystal, MN22,4591022%
Victoria, MN7,84512828%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Park City, UT7,84517171%
Creston, IA7,84681-19%
Dunbar, WV7,84487-13%
Summit Park, UT7,84315959%
West Livingston, TX7,84980-20%
Victoria, MN7,84512828%
Source: The Victoria, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.