| Index | Chanhassen | Minnesota | National |
| Cost of living | 130 | 100 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 100 | 100 | 100 |
| Housing | 203 | 100 | 100 |
| Transportation | 97 | 100 | 100 |
| Utilities | 100 | 104 | 100 |
| Lifestyle & Entertainment | 98 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 95 | 99 | 100 |
Knowing the cost of living in Chanhassen allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Chanhassen stands at 130, marking it 30% higher than the national average.
If you're in pursuit of an economical living environment, Chanhassen may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Chanhassen falls within this bracket.
Housing costs make up a big chunk of the cost of living in Chanhassen, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 103.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Chanhassen affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Chanhassen, for instance, where the median home price falls 123.9% higher than the national average, and monthly rent rates are 55.6% higher than usual. Additionally, median income levels contribute to the equation, with Chanhassen flaunting a median household income of $188,357, 131.6% higher than the national norm.
Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Chanhassen, the housing index is 103.4% higher than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Chanhassen comes in at 0.4% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Chanhassen, the groceries index is 1.9% lower than the national average.
The cost of living data for Chanhassen shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $203,631 | $16,969 | $4,751 | $6,110 |
| Renters | $101,717 | $8,476 | $2,373 | $3,052 |
| State | General Sales Tax | With Max Surtax |
| Minnesota | 6.875% | 7.875% |
| State | Income Tax (Low) | Income Tax (High) |
| Minnesota | 5.35% | 9.85% |
| City | Population | Cost of Living Index | National Avg. |
| Brooklyn Center, MN | 31,682 | 102 | 1.8% |
| Robbinsdale, MN | 14,767 | 103 | 3.3% |
| Watertown, MN | 4,646 | 104 | 4.0% |
| Crystal, MN | 23,618 | 105 | 4.8% |
| Loretto, MN | 761 | 107 | 6.6% |
| Chanhassen, MN | 26,836 | 130 | 29.7% |
| City | Population | Cost of Living Index | National Avg. |
| Barberton, OH | 26,844 | 83 | 16.7% |
| Stevens Point, WI | 26,862 | 93 | 6.7% |
| Plainview, NY | 26,865 | 165 | 64.6% |
| Hercules, CA | 26,786 | 171 | 71.1% |
| Cloverleaf, TX | 26,890 | 92 | 8.3% |
| Chanhassen, MN | 26,836 | 130 | 29.7% |
Here are the best places to live in Minnesota
Check out the 10 safest cities in Minnesota
Safest Cities In The US
Most Dangerous Cities In The US