| Index | Marshall | Minnesota | National |
| Cost of living | 92 | 100 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 95 | 100 | 100 |
| Housing | 82 | 100 | 100 |
| Transportation | 93 | 100 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 93 | 100 | 100 |
| Household Items | 95 | 100 | 100 |
| Education & Childcare | 98 | 99 | 100 |
Understanding the cost of living in Marshall 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 Marshall cost of living index is 92, which is 8% lower 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.
The cost of living in Marshall aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, household expenses, health care and utility bills are priced at a level consistent with the average in similar urban areas. Marshall residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.
Is Marshall 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 Marshall, the median home price is 12.8% lower than the national average and monthly rent prices are 29.8% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Marshall boasting a median household income of $72,722, 10.6% lower than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Marshall, the groceries index is 2.1% lower than the national average.
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.
Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Marshall, is 17.9% lower than the national average.
The Marshall 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 | $112,587 | $9,382 | $2,627 | $3,378 |
| Renters | $43,352 | $3,613 | $1,011 | $1,301 |
| 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. |
| Taunton, MN | 164 | 78 | 21.8% |
| Milroy, MN | 193 | 83 | 17.0% |
| Wood Lake, MN | 395 | 84 | 16.2% |
| Tracy, MN | 2,244 | 82 | 17.8% |
| Balaton, MN | 622 | 83 | 17.3% |
| Marshall, MN | 14,075 | 92 | 7.9% |
| City | Population | Cost of Living Index | National Avg. |
| St. Helens, OR | 14,078 | 114 | 14.0% |
| Lockhart, TX | 14,070 | 96 | 3.8% |
| Forest City, FL | 14,081 | 117 | 16.7% |
| Andrews, TX | 14,081 | 98 | 1.8% |
| Royse City, TX | 14,081 | 108 | 8.3% |
| Marshall, MN | 14,075 | 92 | 7.9% |
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