| Index | Ham Lake | Minnesota | National |
| Cost of living | 118 | 100 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 102 | 100 | 100 |
| Housing | 158 | 100 | 100 |
| Transportation | 97 | 100 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 102 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 97 | 99 | 100 |
Understanding the cost of living in Ham Lake can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Ham Lake cost of living index is 118, which is 18% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
Housing costs make up a big chunk of the cost of living in Ham Lake, 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 57.8% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Ham Lake an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Ham Lake, the median home price is 74.7% higher than what most folks pay across the country, and monthly rent prices are 18.5% higher than the usual rates. Income levels in Ham Lake come in at $147,654, which is 81.5% higher than the national average.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Ham Lake, the utilities index stands at 3.8% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Ham Lake, the baseline sales tax rate begins at 6.875%, and income tax rates start at 5.35%.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
The Ham Lake cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional 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 | $153,468 | $12,789 | $3,581 | $4,605 |
| Renters | $55,514 | $4,626 | $1,295 | $1,666 |
| 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. |
| Hilltop, MN | 1,045 | 80 | 20.0% |
| Stacy, MN | 2,036 | 96 | 4.4% |
| Brooklyn Center, MN | 31,682 | 102 | 1.8% |
| Columbia Heights, MN | 21,019 | 102 | 1.9% |
| Lexington, MN | 2,365 | 101 | 1.4% |
| Ham Lake, MN | 17,046 | 118 | 17.6% |
| City | Population | Cost of Living Index | National Avg. |
| Selwyn, ON | 17,047 | n/a | |
| Madison, NJ | 17,048 | 180 | 79.6% |
| East Highland Park, VA | 17,051 | 99 | 0.9% |
| Pendleton, OR | 17,038 | 105 | 5.3% |
| Lemay, MO | 17,056 | 88 | 11.8% |
| Ham Lake, MN | 17,046 | 118 | 17.6% |
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