| Index | Minot | North Dakota | National |
| Cost of living | 102 | 95 | 100 |
| Groceries | 98 | 99 | 100 |
| Health care | 99 | 99 | 100 |
| Housing | 110 | 86 | 100 |
| Transportation | 100 | 98 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 96 | 97 | 100 |
| Household Items | 100 | 99 | 100 |
| Education & Childcare | 93 | 98 | 100 |
Knowing the cost of living in Minot allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Minot stands at 102, marking it 2% higher than the national average.
The cost of living in Minot closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Minot can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
Locals have the inside scoop on their city. So, we polled 12 residents in Minot to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 67% find it reasonable with decreasing prices, but 33% think it's quite pricey, with prices that continue to rise.
Is Minot an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Minot is 16.3% higher than the national average, while the average monthly rent prices are 6.1% lower than average. The affordability of any location can also be influenced by median income levels. Minot has a median household income of $96,422, which is 18.6% higher than the national average.
Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Minot, the transportation index is 0.4% higher than the national average.
Taxes: Areas with higher taxes, including sales taxes and income taxes, can contribute to a higher cost of living. Paying more tax for everyday household expenses like clothing and food will result in higher costs, as will paying a higher rate of income tax. The general sales tax rate in Minot starts at 5% and the income tax rates start at 1.1%.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
The Minot cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical 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 | $123,412 | $10,284 | $2,879 | $3,703 |
| Renters | $62,358 | $5,197 | $1,455 | $1,871 |
| State | General Sales Tax | With Max Surtax |
| North Dakota | 5% | 8% |
| State | Income Tax (Low) | Income Tax (High) |
| North Dakota | 1.1% | 2.9% |
| City | Population | Cost of Living Index | National Avg. |
| Ruthville, ND | 128 | 71 | 29.3% |
| Deering, ND | 136 | 86 | 13.9% |
| Des Lacs, ND | 272 | 87 | 13.0% |
| Foxholm, ND | 22 | 95 | 5.4% |
| Sawyer, ND | 287 | 95 | 4.8% |
| Minot, ND | 49,742 | 102 | 1.9% |
| City | Population | Cost of Living Index | National Avg. |
| East Lansing, MI | 49,688 | 100 | 0.1% |
| La Mirada, CA | 49,804 | 166 | 66.1% |
| Niagara Falls, NY | 49,651 | 92 | 7.8% |
| Beaumont, CA | 49,877 | 132 | 31.6% |
| Rancho Santa Margarita, CA | 49,889 | 178 | 77.9% |
| Minot, ND | 49,742 | 102 | 1.9% |
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