Minnesota Lake 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.
IndexMinnesota LakeMinnesotaNational
Cost of living index87102100
IndexMinnesota LakeMinnesotaNational
Goods & Services index104105100
Groceries index100106100
Health care index119113100
Housing index52100100
Transportation index98103100
Utilities index9189100
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Did you know?

  • The cost of living in Minnesota Lake is 15% lower than the Minnesota average.
  • The cost of living in Minnesota Lake is 13% lower than the national average.
  • The cost of housing in Minnesota Lake is 48% 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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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$56,667$4,722$1,322$1,700
Renters$43,182$3,599$1,008$1,296

Minnesota Sales Tax

StateGeneral Sales TaxWith Max Surtax
Minnesota6.875%7.875%

Minnesota Income Tax

StateIncome Tax (Low)Income Tax (High)
Minnesota5.35%9.85%

Goods & Services

ItemMinnesota LakeNational avg.Difference
Haircut $21.33$16.0932.6%
Beauty Salon $30.11$37.3319.3%
Toothpaste $2.64$2.457.7%
Shampoo $0.94$1.006.4%
Movie $10.03$10.282.5%
Bowling $4.83$4.932.1%

Groceries

ItemMinnesota LakeNational avg.Difference
Ground Beef $3.29$3.8013.6%
Fried Chicken $2.11$1.4050.8%
Milk $1.81$2.019.8%
Potatoes $2.91$3.013.3%
Pizza $9.82$9.890.6%
Beer $8.21$8.907.8%

Health Care

ItemMinnesota LakeNational avg.Difference
Optometrist $90.13$102.1611.8%
Doctor $165.00$108.3652.3%
Dentist $108.33$92.5317.1%
Ibuprofen $9.19$9.280.9%
Lipitor $392.31$425.827.9%

Housing

ItemMinnesota LakeNational avg.Difference
Home Price $96,900.00$184,700.0047.5%
Avg. Mortgage Payment $835.42$1,202.4430.5%
Apartment Rent $481.00$949.0049.3%

Transportation

ItemMinnesota LakeNational avg.Difference
Gasoline $2.22$2.241.2%
Tire Balancing $44.89$46.293.0%

Utilities

ItemMinnesota LakeNational avg.Difference
All Electricity$152.74$165.968.0%
Phone $25.99$28.689.4%
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, StatePopulationCost of Living IndexNational Avg.
Easton, MN20482-18%
Delavan, MN24382-18%
Freeborn, MN33983-17%
Waldorf, MN19885-15%
Blue Earth, MN3,25485-15%
Minnesota Lake, MN61687-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Corsica, SD61681-19%
Claremont, MN61686-14%
Plainview, AR61678-22%
Buckland, AK61611313%
Ipava, IL61683-17%
Minnesota Lake, MN61687-13%
Source: The Minnesota Lake, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.