Minot, ND Cost Of Living

Minot 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	Minot	North Dakota	National
Cost of living index	105	97	100
Index	Minot	North Dakota	National
Goods & Services index	106	102	100
Groceries index	107	105	100
Health care index	115	113	100
Housing index	106	85	100
Transportation index	114	107	100
Utilities index	83	85	100

Here we can see a simple outline of the cost of living in Minot, ND. As you can see, with the average cost of living in Minot, ND being 105, that puts it 9% higher than the average of North Dakota and 5% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Minot, ND, the price of goods and services are 4% higher than the average of North Dakota as well as 6% higher than the nation's average.

Did you know?

The cost of living in Minot is 9% higher than the North Dakota average.
The cost of living in Minot is 5% higher than the national average.
The cost of housing in Minot is 6% higher than the national average.
North Dakota general sales tax is 2% lower than the national average.
North Dakota state income tax is 51% lower than the national average.

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Price difference in compared to

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 Minot, ND 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 Minot, ND, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Minot, ND 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	$79,379	$6,615	$1,852	$2,382
Renters	$43,694	$3,641	$1,019	$1,311

If you want to find a good determining factor for the cost of living and the general affordability of housing in Minot, ND, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Minot, ND, the median monthly income is $79,379 for those who own their own homes. Under the standard rule, that income level would allow for $1,852 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $43,694, per the median income in the area. That would allow for renters to spend up to $1,019 on monthly rental expenses.

North Dakota Sales Tax

State	General Sales Tax	With Max Surtax
North Dakota	5%	8%

North Dakota Income Tax

State	Income Tax (Low)	Income Tax (High)
North Dakota	1.1%	2.9%

One thing to keep in mind when considering the cost of living in Minot, ND is the North Dakota sales tax and North Dakota income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The North Dakota sales tax rate is 5% and the maximum surtax that can be charged is 8%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The North Dakota income tax rates range from 1.1% to 2.9%.

Goods & Services

Item	Minot	National avg.	Difference
Haircut	$15.66	$16.09	2.6%
Beauty Salon	$28.34	$37.33	24.1%
Toothpaste	$2.91	$2.45	19.0%
Shampoo	$1.20	$1.00	19.9%
Movie	$11.62	$10.28	13.0%
Bowling	$4.25	$4.93	13.8%

Groceries

Item	Minot	National avg.	Difference
Ground Beef	$4.03	$3.80	5.9%
Fried Chicken	$1.46	$1.40	4.3%
Milk	$2.72	$2.01	35.6%
Potatoes	$3.26	$3.01	8.3%
Pizza	$13.33	$9.89	34.9%
Beer	$8.33	$8.90	6.3%

Health Care

Item	Minot	National avg.	Difference
Optometrist	$112.00	$102.16	9.6%
Doctor	$151.11	$108.36	39.5%
Dentist	$84.67	$92.53	8.5%
Ibuprofen	$12.65	$9.28	36.3%
Lipitor	$493.89	$425.82	16.0%

Housing

Item	Minot	National avg.	Difference
Home Price	$201,900.00	$184,700.00	9.3%
Avg. Mortgage Payment	$1,185.21	$1,202.44	1.4%
Apartment Rent	$917.00	$949.00	3.4%

Transportation

Item	Minot	National avg.	Difference
Gasoline	$2.29	$2.24	2.0%
Tire Balancing	$64.00	$46.29	38.3%

Utilities

Item	Minot	National avg.	Difference
All Electricity	$136.75	$165.96	17.6%
Phone	$23.97	$28.68	16.4%

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, State	Population	Cost of Living Index	National Avg.
Deering, ND	92	90	-10%
Des Lacs, ND	215	96	-4%
Sawyer, ND	323	100	0%
Ruthville, ND	256	100	0%
Foxholm, ND	52	105	5%
Minot, ND	47,338	105	5%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Wauwatosa, WI	47,388	103	3%
Lawrence, IN	47,415	90	-10%
East Providence, RI	47,260	114	14%
Pearl City, HI	47,241	187	87%
Ceres, CA	47,231	106	6%
Minot, ND	47,338	105	5%

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

Minot, ND Cost of Living