B
Overall 15%
Goods & Services 5%
Housing 47%
Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; 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.
IndexBuffalo LakeMinnesotaNational
Cost of living85103100
Goods & Services95107100
Groceries102104100
Health care120111100
Housing53100100
Transportation99100100
Utilities9697100

Key findings

  • The cost of living in Buffalo Lake is 18% lower than the Minnesota average
  • The cost of living in Buffalo Lake is 15% lower than the national average
  • Buffalo Lake housing is 47% lower than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 117% higher than the national average

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Compare Buffalo Lake, MN Cost of Living

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      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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$44,853$3,738$1,047$1,346
      Renters$33,500$2,792$782$1,005

      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

      ItemBuffalo LakeNational avg.Difference
      Haircut $21.16$18.6213.6%
      Beauty Salon $30.55$39.0521.8%
      Toothpaste $2.27$2.343.2%
      Shampoo $0.92$1.0613.2%
      Movie $8.83$10.6817.4%
      Bowling $9.17$14.6737.5%

      Groceries

      ItemBuffalo LakeNational avg.Difference
      Ground Beef $4.86$4.2215.1%
      Fried Chicken $1.64$1.3918.1%
      Milk $2.14$2.054.4%
      Potatoes $3.84$3.2916.7%
      Pizza $11.66$10.629.7%
      Beer $8.98$9.384.2%

      Health Care

      ItemBuffalo LakeNational avg.Difference
      Optometrist $125.17$108.5715.3%
      Doctor $204.33$116.1775.9%
      Dentist $101.00$99.131.9%
      Ibuprofen $10.68$9.6810.4%
      Lipitor $375.37$466.9219.6%

      Housing

      ItemBuffalo LakeNational avg.Difference
      Home Price $82,500.00$184,700.0055.3%
      Avg. Mortgage Payment $773.91$1,197.4235.4%
      Apartment Rent $700.00$949.0026.2%

      Transportation

      ItemBuffalo LakeNational avg.Difference
      Gasoline $2.20$2.220.9%
      Tire Balancing $47.72$50.074.7%

      Utilities

      ItemBuffalo LakeNational avg.Difference
      All Electricity$157.58$167.676.0%
      Phone $182.10$175.643.7%
      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.
      Franklin, MN52980-20%
      Cedar Mills, MN4689-11%
      Stewart, MN52282-18%
      Cosmos, MN49389-11%
      Lake Lillian, MN25090-10%
      Buffalo Lake, MN74085-15%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Lake Park, MN74088-12%
      Brooklyn, IL74074-26%
      Savoy, TX74079-21%
      Peletier, NC74093-7%
      Magnolia Springs, AL7401033%
      Buffalo Lake, MN74085-15%
      Source: The Buffalo Lake, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.