C+
5%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
25%
Housing NAT. AVG.
Search Homes for Sale
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 Brooklyn Park Minnesota National
Cost of living10599100
Goods & Services95100100
Groceries9798100
Health care101109100
Housing125100100
Transportation9797100
Utilities9593100

An Overview of Cost of Living in Brooklyn Park, MN

The cost of living in Brooklyn Park affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Brooklyn Park is 105, which is 5% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in Brooklyn Park 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. Brooklyn Park 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.

Housing costs significantly influence the Brooklyn Park cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 24.9%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Brooklyn Park Affordable?

Is Brooklyn Park an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Brooklyn Park, the median home price is 26.5% higher than what most folks pay across the country, and monthly rent prices are 21.2% higher than the usual rates. Income levels in Brooklyn Park come in at $73,207, which is 32.3% higher than the national average.

What Factors can Influence the Cost of Living in Brooklyn Park?

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Brooklyn Park, the groceries index is 2.6% lower than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Brooklyn Park, the utilities index is 5.2% lower than the national average.

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Brooklyn Park, healthcare costs are 0.6% higher than the national average.

Where is the Data From?

The cost of living in Brooklyn Park, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Brooklyn Park Area
Search Homes for Sale in Brooklyn Park, MN

Cost Of Living Quick Facts

  • The cost of living in Brooklyn Park is 6% higher than the Minnesota average
  • The cost of living in Brooklyn Park is 5% higher than the national average
  • Brooklyn Park housing is 25% higher than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 106% higher than the national average

Most Affordable Places to Live in and Around Brooklyn Park

See all the best places to live around Brooklyn Park

Compare Brooklyn Park, MN Cost of Living

      vs
      How would you rate the cost of living in Brooklyn Park?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Brooklyn Park?
      Write a review to give others more information about this area.
      See all Brooklyn Park poll results

      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$89,937$7,495$2,098$2,698
      Renters$40,018$3,335$934$1,201
      To approximate the cost of living and the housing affordability in Brooklyn Park, MN, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Brooklyn Park have a median income of $89,937. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,098 per month to avoid calamity and poverty. The renters in the city have an income of about $40,018, which would make their monthly maximum allowable rental costs $934.

      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 Brooklyn Park 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 Brooklyn Park 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 Brooklyn Park 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 Brooklyn Park National avg. Difference
      Home Price $233,700.00$184,700.0026.5%
      Avg. Mortgage Payment $1,983.77$2,346.6915.5%
      Apartment Rent $1,150.00$949.0021.2%

      Transportation

      Item Brooklyn Park National avg. Difference
      Gasoline $3.32$3.464.0%
      Tire Balancing $59.91$59.920.0%

      Utilities

      Item Brooklyn Park 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.
      Hilltop, MN1,0077722.8%
      St. Anthony city (Stearns County), MN1068019.7%
      Columbia Heights, MN20,247991.3%
      Brooklyn Center, MN30,755990.7%
      Lexington, MN2,276990.5%
      Brooklyn Park, MN80,1731054.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Mountain View, CA80,104283182.8%
      Lawrence, MA80,02212726.7%
      Pleasanton, CA79,975226126.2%
      Springdale, AR80,433945.7%
      Alameda, CA79,827207107.4%
      Brooklyn Park, MN80,1731054.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.