Fergus Falls 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.
IndexFergus FallsMinnesotaNational
Cost of living index89104100
IndexFergus FallsMinnesotaNational
Goods & Services index100109100
Groceries index108106100
Health care index115110100
Housing index64100100
Transportation index99100100
Utilities index8798100
A general summary of the cost of living index in Fergus Falls, MN is shown above. Compared to the state average of Minnesota the cost of living index in Fergus Falls, MN is 89, which is 14% lower than the average in Minnesota and compared to the national average it is 11% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Fergus Falls, MN goods and services come in at 8% lower than the average in Minnesota and are equal to compared to the nationwide average.
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Did you know?

  • The cost of living in Fergus Falls is 14% lower than the Minnesota average.
  • The cost of living in Fergus Falls is 11% lower than the national average.
  • The cost of housing in Fergus Falls is 36% lower 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.

Compare Fergus Falls, MN Cost of living To Other Cities

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      Use the salary calculator to compare your current income in Fergus Falls, MN to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Fergus Falls, MN, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Fergus Falls, MN salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$64,882$5,407$1,514$1,947
      Renters$25,465$2,122$594$764
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Fergus Falls, MN as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Fergus Falls, MN homeowners, is $64,882. This would allow for a maximum of $1,514 per month to be spent on housing costs. For renters, the median monthly income is $25,465 which would result in a maximum of $594 to be spent on rental costs.

      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%
      When assessing the complete cost of living in Fergus Falls, MN, the Minnesota income tax and the Minnesota sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Minnesota maximum surtax is 7.875%, and the Minnesota sales tax is 6.875%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 5.35% to 9.85% in Minnesota.

      Goods & Services

      ItemFergus FallsNational avg.Difference
      Haircut $18.03$17.493.1%
      Beauty Salon $34.13$38.1710.6%
      Toothpaste $2.36$2.321.7%
      Shampoo $1.26$1.0124.2%
      Movie $11.00$10.722.6%
      Bowling $4.03$13.8670.9%

      Groceries

      ItemFergus FallsNational avg.Difference
      Ground Beef $3.40$3.9012.7%
      Fried Chicken $1.84$1.4032.1%
      Milk $2.96$1.9651.0%
      Potatoes $2.73$3.1814.1%
      Pizza $8.77$10.3915.7%
      Beer $9.04$9.232.1%

      Health Care

      ItemFergus FallsNational avg.Difference
      Optometrist $93.17$106.3412.4%
      Doctor $157.22$115.2536.4%
      Dentist $95.33$98.383.1%
      Ibuprofen $10.28$9.2611.0%
      Lipitor $428.78$466.478.1%

      Housing

      ItemFergus FallsNational avg.Difference
      Home Price $118,500.00$184,700.0035.8%
      Avg. Mortgage Payment $1,232.19$1,273.323.2%
      Apartment Rent $599.00$949.0036.9%

      Transportation

      ItemFergus FallsNational avg.Difference
      Gasoline $2.11$2.5918.5%
      Tire Balancing $50.47$48.903.2%

      Utilities

      ItemFergus FallsNational avg.Difference
      All Electricity$142.52$167.6015.0%
      Phone $25.30$163.4284.5%
      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.
      Erhard, MN13182-18%
      Dalton, MN27882-18%
      Elizabeth, MN16783-17%
      Foxhome, MN12884-16%
      Underwood, MN39186-14%
      Fergus Falls, MN13,31089-11%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Spring Creek, NV13,3101011%
      Destin, FL13,31211414%
      Solana Beach, CA13,312217117%
      Shorewood, WI13,30011111%
      San Marino, CA13,324285185%
      Fergus Falls, MN13,31089-11%
      Source: The Fergus Falls, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.