Woodbury 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.
IndexWoodburyMinnesotaNational
Cost of living index118102100
IndexWoodburyMinnesotaNational
Goods & Services index109107100
Groceries index105107100
Health care index103108100
Housing index150101100
Transportation index10298100
Utilities index9187100
A general summary of the cost of living index in Woodbury, MN is shown above. Compared to the state average of Minnesota the cost of living index in Woodbury, MN is 118, which is 16% higher than the average in Minnesota and compared to the national average it is 18% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Woodbury, MN goods and services come in at 2% higher than the average in Minnesota and are 9% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Woodbury is 16% higher than the Minnesota average.
  • The cost of living in Woodbury is 18% higher than the national average.
  • The cost of housing in Woodbury is 50% 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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Use the salary calculator to compare your current salary in Woodbury, 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 Woodbury, MN, then you would need to earn more income in order to maintain the same standard of living. To use the Woodbury, 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$108,698$9,058$2,536$3,261
Renters$67,136$5,595$1,566$2,014
The affordability of the housing market in Woodbury, MN as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Woodbury, MN homeowners, the median income is $108,698. This indicates that a monthly maximum of $2,536 should be spent by homeowners on all housing related costs. Renters have a median income of $67,136. This indicates that renters should have a maximum of $1,566 used for their rent related monthly costs.

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%
For those who live in Woodbury, MN and want to know what the true cost of living is, they ought to look at both the Minnesota income tax rate and the Minnesota sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Minnesota, the sales tax is 6.875%, while the most you'll pay in surtax is 7.875%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Minnesota, the income tax rate ranges between 5.35% to 9.85%.

Goods & Services

ItemWoodburyNational avg.Difference
Haircut $22.74$14.5955.8%
Beauty Salon $33.43$34.683.6%
Toothpaste $3.44$2.4739.1%
Shampoo $1.05$1.022.7%
Movie $9.88$9.870.1%
Bowling $4.16$4.395.3%

Groceries

ItemWoodburyNational avg.Difference
Ground Beef $3.76$4.4816.0%
Fried Chicken $1.92$1.4631.1%
Milk $2.24$2.365.0%
Potatoes $3.22$3.065.2%
Pizza $10.57$9.2414.4%
Beer $8.66$8.630.3%

Health Care

ItemWoodburyNational avg.Difference
Optometrist $81.89$99.7817.9%
Doctor $131.17$105.0324.9%
Dentist $86.82$88.702.1%
Ibuprofen $11.79$9.4125.3%
Lipitor $250.88$298.5016.0%

Housing

ItemWoodburyNational avg.Difference
Home Price $267,500.00$175,700.0052.2%
Avg. Mortgage Payment $1,173.84$1,081.038.6%
Apartment Rent $1,344.00$920.0046.1%

Transportation

ItemWoodburyNational avg.Difference
Gasoline $1.97$2.095.8%
Tire Balancing $55.48$45.2922.5%

Utilities

ItemWoodburyNational avg.Difference
All Electricity$158.73$170.807.1%
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.
Landfall, MN79679-21%
Hilltop, MN82881-19%
Somerset, WI2,65597-3%
St. Paul Park, MN5,32799-1%
Lexington, MN2,019100-0%
Woodbury, MN64,54411818%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
East Orange, NJ64,53811313%
Pine Hills, FL64,51690-10%
Johnson City, TN64,61495-5%
San Clemente, CA64,67318080%
Maple Grove, MN64,36411515%
Woodbury, MN64,54411818%
Source: The Woodbury, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.