| Index | Golden Valley | Minnesota | National |
| Cost of living | 121 | 100 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 169 | 100 | 100 |
| Transportation | 101 | 100 | 100 |
| Utilities | 103 | 104 | 100 |
| Lifestyle & Entertainment | 103 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 104 | 99 | 100 |
The cost of living in Golden Valley affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Golden Valley is 121, which is 21% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, 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 Golden Valley 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, Golden Valley falls into this category, which may not align with your goal of finding a budget-friendly living environment.
Housing costs are a very significant part of the Golden Valley cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 68.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Golden Valley 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 Golden Valley, the median home price is 80.9% higher than the national average and monthly rent prices are 39.8% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Golden Valley boasting a median household income of $143,505, 76.4% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Golden Valley, healthcare costs are 0.6% higher than the national average.
Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Golden Valley, the transportation index is 1.3% higher than the national average.
Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Golden Valley, the groceries index is 1.3% lower than the national average.
The Golden Valley cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
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| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $184,030 | $15,336 | $4,294 | $5,521 |
| Renters | $69,754 | $5,813 | $1,627 | $2,093 |
| 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% |
| Golden Valley, MN | 22,333 | 121 | 21.2% |
| City | Population | Cost of Living Index | National Avg. |
| Darien, CT | 22,334 | 245 | 144.9% |
| Elkridge, MD | 22,335 | 135 | 35.3% |
| Lino Lakes, MN | 22,340 | 117 | 17.5% |
| Klamath Falls, OR | 22,340 | 103 | 3.2% |
| Roselle, NJ | 22,321 | 116 | 15.7% |
| Golden Valley, MN | 22,333 | 121 | 21.2% |
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