Hutchinson, MN Cost Of Living

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Hutchinson 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	Hutchinson	Minnesota	National
Cost of living index	95	102	100
Index	Hutchinson	Minnesota	National
Goods & Services index	103	105	100
Groceries index	115	106	100
Health care index	124	113	100
Housing index	77	100	100
Transportation index	101	103	100
Utilities index	85	89	100

A general overview of the cost of living index for Hutchinson, MN is displayed above. In Hutchinson, MN, the overall cost of living index is 95, which is 7% lower than the Minnesota average and 5% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Hutchinson, MN, the city's goods and services are 2% lower than the Minnesota average and 3% higher than the U.S. average.

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Did you know?

The cost of living in Hutchinson is 7% lower than the Minnesota average.
The cost of living in Hutchinson is 5% lower than the national average.
The cost of housing in Hutchinson is 23% 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.

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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator allows you to compare how much your current salary in Hutchinson, MN would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Hutchinson, MN, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Hutchinson, MN salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$62,896	$5,241	$1,467	$1,887
Renters	$31,375	$2,615	$732	$941

One can approximate the cost of living and the housing affordability in Hutchinson, MN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Hutchinson, MN have a median income of $62,896. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,467 per month to avoid calamity and poverty. The renters in the city have an income of about $31,375, which would make their monthly maximum allowable rental costs $732.

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%

When assessing the complete cost of living in Hutchinson, 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

Item	Hutchinson	National avg.	Difference
Haircut	$17.00	$16.09	5.7%
Beauty Salon	$32.17	$37.33	13.8%
Toothpaste	$2.93	$2.45	19.9%
Shampoo	$1.53	$1.00	53.3%
Movie	$9.25	$10.28	10.0%
Bowling	$4.07	$4.93	17.4%

Groceries

Item	Hutchinson	National avg.	Difference
Ground Beef	$3.79	$3.80	0.3%
Fried Chicken	$2.22	$1.40	58.9%
Milk	$2.29	$2.01	14.1%
Potatoes	$3.02	$3.01	0.2%
Pizza	$9.99	$9.89	1.1%
Beer	$9.79	$8.90	10.0%

Health Care

Item	Hutchinson	National avg.	Difference
Optometrist	$132.83	$102.16	30.0%
Doctor	$184.50	$108.36	70.3%
Dentist	$89.10	$92.53	3.7%
Ibuprofen	$9.63	$9.28	3.8%
Lipitor	$480.16	$425.82	12.8%

Housing

Item	Hutchinson	National avg.	Difference
Home Price	$138,600.00	$184,700.00	25.0%
Avg. Mortgage Payment	$823.98	$1,202.44	31.5%
Apartment Rent	$771.00	$949.00	18.8%

Transportation

Item	Hutchinson	National avg.	Difference
Gasoline	$2.30	$2.24	2.5%
Tire Balancing	$45.09	$46.29	2.6%

Utilities

Item	Hutchinson	National avg.	Difference
All Electricity	$162.68	$165.96	2.0%
Phone	$19.99	$28.68	30.3%

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, State	Population	Cost of Living Index	National Avg.
Cedar Mills, MN	46	85	-15%
Stewart, MN	522	85	-15%
New Auburn, MN	447	85	-15%
Biscay, MN	84	86	-14%
Buffalo Lake, MN	740	87	-13%
Hutchinson, MN	13,891	95	-5%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Harper Woods, MI	13,895	86	-14%
Salida, CA	13,898	112	12%
Wood Dale, IL	13,908	114	14%
Whitehall, PA	13,873	94	-6%
Levelland, TX	13,872	82	-18%
Hutchinson, MN	13,891	95	-5%

Source: The Hutchinson, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Hutchinson, MN Cost of Living