Minot, North Dakota Cost Of Living

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D+

Overall 4%

Goods & Services 0%

Housing 6%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Minot	North Dakota	National
Cost of living	104	95	100
Goods & Services	100	97	100
Groceries	107	101	100
Health care	114	113	100
Housing	106	85	100
Transportation	110	104	100
Utilities	96	95	100

Key findings

The cost of living in Minot is 9% higher than the North Dakota average
The cost of living in Minot is 4% higher than the national average
Minot housing 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 55% 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

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

A good indicator of the general affordability of housing in Minot, ND, 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, 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%

Goods & Services

Item	Minot	National avg.	Difference
Haircut	$18.92	$20.27	6.7%
Beauty Salon	$43.33	$40.39	7.3%
Toothpaste	$2.65	$2.36	12.3%
Shampoo	$1.38	$1.08	28.5%
Movie	$12.85	$10.99	17.0%
Bowling	$5.00	$15.49	67.7%

Groceries

Item	Minot	National avg.	Difference
Ground Beef	$3.71	$4.30	13.7%
Fried Chicken	$1.55	$1.40	10.5%
Milk	$2.95	$2.20	34.1%
Potatoes	$2.78	$3.22	13.5%
Pizza	$10.42	$10.74	3.0%
Beer	$8.39	$9.60	12.6%

Health Care

Item	Minot	National avg.	Difference
Optometrist	$112.33	$109.73	2.4%
Doctor	$154.40	$118.34	30.5%
Dentist	$109.86	$100.94	8.8%
Ibuprofen	$10.52	$9.93	5.9%
Lipitor	$528.33	$469.53	12.5%

Housing

Item	Minot	National avg.	Difference
Home Price	$201,900.00	$184,700.00	9.3%
Avg. Mortgage Payment	$1,093.01	$1,229.62	11.1%
Apartment Rent	$917.00	$949.00	3.4%

Transportation

Item	Minot	National avg.	Difference
Gasoline	$2.73	$2.71	0.7%
Tire Balancing	$64.43	$51.86	24.2%

Utilities

Item	Minot	National avg.	Difference
All Electricity	$154.62	$170.84	9.5%
Phone	$191.70	$187.18	2.4%

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	Population	Cost of Living Index	National Avg.
Deering, ND	92	89	10.7%
Des Lacs, ND	215	95	5.4%
Sawyer, ND	323	99	1.3%
Ruthville, ND	256	99	1.2%
Foxholm, ND	52	104	4.0%
Minot, ND	47,338	104	3.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Wauwatosa, WI	47,388	102	1.5%
Lawrence, IN	47,415	89	10.9%
East Providence, RI	47,260	113	13.0%
Pearl City, HI	47,241	183	82.6%
Ceres, CA	47,231	109	9.0%
Minot, ND	47,338	104	3.7%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.