| Index | Edina | Minnesota | National |
| Cost of living | 142 | 100 | 100 |
| Groceries | 102 | 100 | 100 |
| Health care | 99 | 100 | 100 |
| Housing | 239 | 100 | 100 |
| Transportation | 98 | 100 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 104 | 100 | 100 |
| Household Items | 102 | 100 | 100 |
| Education & Childcare | 101 | 99 | 100 |
Getting a feel for the cost of living in Edina is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Edina is 142, which is 42% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Edina is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Edina falls into this category, which may not align with your goal of finding a budget-friendly living environment.
When it comes to the cost of living in Edina, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 138.8% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Edina affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Edina, the median home price is 177.4% higher than the national average and monthly rent prices are 48.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Edina boasting a median household income of $159,150, 95.7% higher 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 Edina, the utilities index is 3.9% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Edina, the standard sales tax rate starts at 6.875%, and the income tax rates commence at 5.35%.
Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.
The Edina cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| 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 | $205,436 | $17,120 | $4,793 | $6,164 |
| Renters | $87,465 | $7,289 | $2,041 | $2,624 |
| 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. |
| South End, MN | 66 | 78 | 22.1% |
| Hilltop, MN | 1,045 | 80 | 20.0% |
| St. Anthony city (Stearns County), MN | 108 | 84 | 16.4% |
| Brooklyn Center, MN | 31,682 | 102 | 1.8% |
| Columbia Heights, MN | 21,019 | 102 | 1.9% |
| Edina, MN | 53,873 | 142 | 42.4% |
| City | Population | Cost of Living Index | National Avg. |
| Stratford, CT | 53,937 | 117 | 16.8% |
| Elkhart, IN | 53,808 | 86 | 13.8% |
| North Bay, ON | 53,968 | n/a | |
| Pensacola, FL | 54,052 | 106 | 5.5% |
| Placentia, CA | 53,649 | 174 | 74.4% |
| Edina, MN | 53,873 | 142 | 42.4% |
Here are the best places to live in Minnesota
Most Dangerous States In The US
These are the 10 cheapest cities in Minnesota
Most Dangerous Cities In The US