Cost of Living in Lake City, MN

Get 300+ Local Insights for Any Address in Lake City, MN

Get Access to 300+ Local Data Points
A
1%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
4%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Lake City Minnesota National
Cost of living99100100
Groceries100100100
Health care99100100
Housing96100100
Transportation102100100
Utilities108104100
Lifestyle & Entertainment96100100
Household Items100100100
Education & Childcare10299100
Does this Area Fit Your Budget? Local Insights Report
  • Know the community before you call it home
  • Compare multiple areas side by side
  • Access over 300 data points for any address
Local Insights Report

Homes For Sale In Lake City, MN

property for sale

1004 W Marion St

Lake City, MN
property for sale

302 Grand Dr

Lake City, MN
property for sale

200 E Michigan St #1

Lake City, MN
property for sale

71109 U.S. 61 #1

Lake City, MN

Cost Of Living Quick Facts

  • The cost of living in Lake City is 1% lower than the Minnesota average
  • The cost of living in Lake City is 1% lower than the national average
  • Lake City housing is 4% lower than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 106% higher than the national average

Most Affordable Places to Live in and Around Lake City

See all the best places to live around Lake City

Compare Lake City, MN Cost of Living

City Image
    City Default Image
      vs
      How would you rate the cost of living in Lake City?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Lake City?
      Write a review to give others more information about this area.
      See all Lake City poll results

      The best places in Minnesota

      Here are the best places to live in MinnesotaSafest Cities In The USCheck out the 10 most dangerous cities in MinnesotaSee the best places to live in Lake City
      Best Places in Minnesota

      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$104,693$8,724$2,443$3,141
      Renters$64,147$5,346$1,497$1,925
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Lake City, 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 Lake City homeowners, is $104,693. This would allow for a maximum of $2,443 per month to be spent on housing costs. For renters, the median monthly income is $64,147 which would result in a maximum of $1,497 to be spent on rental costs.

      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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Millville, MN2788911.4%
      Arkansaw, WI3508811.7%
      Nelson, WI317919.3%
      Plum City, WI624909.7%
      Bay City, WI458918.7%
      Lake City, MN5,226990.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Salisbury, MA5,22613535.4%
      Primera, TX5,2268613.9%
      Flagler Beach, FL5,22712423.6%
      Eastman, GA5,227909.9%
      South Pasadena, FL5,2241087.6%
      Lake City, MN5,226990.6%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
      General
      For Professionals
      Follow Us
      AV on Twitter AV on Facebook
      © AreaVibes Inc. 2010-2026