Cost of Living in New Prague, MN

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B-
8%
Overall NAT. AVG.
2%
Groceries NAT. AVG.
31%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index New Prague Minnesota National
Cost of living108100100
Groceries98100100
Health care100100100
Housing131100100
Transportation97100100
Utilities100104100
Lifestyle & Entertainment98100100
Household Items98100100
Education & Childcare9599100
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Homes For Sale In New Prague, MN

property for sale

1107 Park Ct SE

New Prague, MN
property for sale

26721 Redwing Ave

New Prague, MN
property for sale

1520 Praha St SE

New Prague, MN
property for sale

315 Central Ave N

New Prague, MN

Cost Of Living Quick Facts

  • The cost of living in New Prague is 8% higher than the Minnesota average
  • The cost of living in New Prague is 8% higher than the national average
  • New Prague housing is 31% higher than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 106% higher than the national average

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      Utilities index
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      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$137,295$11,441$3,203$4,119
      Renters$58,147$4,846$1,357$1,745
      A good way to judge both the affordability of the housing and the cost of living in New Prague is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. New Prague has a median income of about $137,295 for people who own homes. Based on that number, a maximum of $3,203 should be spent on expenses related to housing. Renters have a slightly different median income, which is $58,147. Based on this average, renters should spend no more than $1,357 on all rental costs if they want to maintain a non-impoverished standard of living.

      Minnesota Sales Tax

      State General Sales Tax With Max Surtax
      Minnesota 6.875% 7.875%

      Minnesota Income Tax

      State Income Tax (Low) Income Tax (High)
      Minnesota 5.35% 9.85%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Le Center, MN2,727937.0%
      Montgomery, MN3,105981.7%
      Belle Plaine, MN7,3901044.0%
      Lonsdale, MN4,1861087.9%
      Heidelberg, MN2211076.8%
      New Prague, MN8,2681087.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lac la Biche County, AB8,268n/a 
      Pleasant Hills, PA8,2711010.7%
      Maplewood, MO8,264973.4%
      Boyes Hot Springs, CA8,27316766.5%
      Brookhaven, PA8,2621066.2%
      New Prague, MN8,2681087.8%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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