Chaska, MN Cost Of Living

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Chaska 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.
Index	Chaska	Minnesota	National
Cost of living index	112	104	100
Index	Chaska	Minnesota	National
Goods & Services index	113	109	100
Groceries index	103	106	100
Health care index	103	110	100
Housing index	125	100	100
Transportation index	104	100	100
Utilities index	97	98	100

An overview of the general cost of living index for Chaska, MN is displayed above for your reference. Residents in Chaska, MN enjoy a cost of living index of 112. This index is 8% higher than the Minnesota average, and 12% 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 Chaska, MN, the average cost of goods and services is 4% higher than it is in Minnesota, and it is 13% higher than the national average.

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Did you know?

The cost of living in Chaska is 8% higher than the Minnesota average.
The cost of living in Chaska is 12% higher than the national average.
The cost of housing in Chaska is 25% 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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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Using the salary calculator lets you compare the salary you earn in Chaska, MN to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Chaska, MN, you have to earn a higher income in order to still have the same standard of living. To operate the Chaska, MN salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$96,862	$8,072	$2,260	$2,906
Renters	$49,939	$4,162	$1,165	$1,498

The affordability of the housing market in Chaska, 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 Chaska, MN homeowners, the median income is $96,862. This indicates that a monthly maximum of $2,260 should be spent by homeowners on all housing related costs. Renters have a median income of $49,939. This indicates that renters should have a maximum of $1,165 used for their rent related monthly costs.

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%

For those who live in Chaska, 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

Item	Chaska	National avg.	Difference
Haircut	$24.49	$17.49	40.0%
Beauty Salon	$34.71	$38.17	9.1%
Toothpaste	$3.37	$2.32	45.2%
Shampoo	$1.08	$1.01	6.7%
Movie	$10.43	$10.72	2.7%
Bowling	$21.05	$13.86	51.9%

Groceries

Item	Chaska	National avg.	Difference
Ground Beef	$4.52	$3.90	15.9%
Fried Chicken	$2.10	$1.40	50.5%
Milk	$2.62	$1.96	33.5%
Potatoes	$3.36	$3.18	5.6%
Pizza	$12.73	$10.39	22.5%
Beer	$8.91	$9.23	3.5%

Health Care

Item	Chaska	National avg.	Difference
Optometrist	$89.90	$106.34	15.5%
Doctor	$150.44	$115.25	30.5%
Dentist	$85.78	$98.38	12.8%
Ibuprofen	$11.78	$9.26	27.2%
Lipitor	$445.61	$466.47	4.5%

Housing

Item	Chaska	National avg.	Difference
Home Price	$243,700.00	$184,700.00	31.9%
Avg. Mortgage Payment	$1,327.62	$1,273.32	4.3%
Apartment Rent	$1,020.00	$949.00	7.5%

Transportation

Item	Chaska	National avg.	Difference
Gasoline	$2.47	$2.59	4.5%
Tire Balancing	$59.72	$48.90	22.1%

Utilities

Item	Chaska	National avg.	Difference
All Electricity	$162.02	$167.60	3.3%
Phone	$178.08	$163.42	9.0%

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.

City, State	Population	Cost of Living Index	National Avg.
Watertown, MN	4,298	100	0%
Robbinsdale, MN	14,382	102	2%
Belle Plaine, MN	6,892	98	-2%
Cologne, MN	1,655	106	6%
Maple Plain, MN	1,812	107	7%
Chaska, MN	25,078	112	12%

City, State	Population	Cost of Living Index	National Avg.
Baldwin, NY	25,071	147	47%
Maple Valley, WA	25,093	142	42%
Lockport, IL	25,096	104	4%
Edwardsville, IL	25,044	98	-2%
Balch Springs, TX	25,043	92	-8%
Chaska, MN	25,078	112	12%

Chaska, MN Cost of Living