C
5%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
23%
Housing NAT. AVG.
Search Homes for Sale
Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Oakdale Minnesota National
Cost of living10599100
Goods & Services96100100
Groceries9998100
Health care101109100
Housing123100100
Transportation9897100
Utilities9493100

An Overview of Cost of Living in Oakdale, MN

Understanding the cost of living in Oakdale can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Oakdale cost of living index is 105, which is 5% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in Oakdale is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Housing costs are a major factor in the Oakdale cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 22.9% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Oakdale Affordable?

Is Oakdale affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Oakdale, the median home price is 26.1% higher than the national average and monthly rent prices are 15.6% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Oakdale boasting a median household income of $74,303, 34.3% higher than the national average.

What Factors can Influence the Cost of Living in Oakdale?

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Oakdale, the general sales tax rate starts at 6.875%, and income tax rates begin at 5.35%.

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.

Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Oakdale, healthcare costs are 0.7% higher than the national average.

Where is the Data From?

The cost of living in Oakdale, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

New Real Estate Listings in Oakdale Area
Search Homes for Sale in Oakdale, MN

Cost Of Living Quick Facts

  • The cost of living in Oakdale is 6% higher than the Minnesota average
  • The cost of living in Oakdale is 5% higher than the national average
  • Oakdale housing is 23% higher than the national average
  • Minnesota general sales tax is 35% higher than the national average
  • Minnesota state income tax is 137% higher than the national average

Most Affordable Places to Live in and Around Oakdale

See all the best places to live around Oakdale

Compare Oakdale, MN Cost of Living

      vs
      How would you rate the cost of living in Oakdale?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Oakdale?
      Write a review to give others more information about this area.
      See all Oakdale poll results

      Salary Calculator

      This is how much you would need to earn in
      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$93,081$7,757$2,172$2,793
      Renters$33,843$2,820$790$1,015
      To approximate the cost of living and the housing affordability in Oakdale, MN, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Oakdale have a median income of $93,081. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,172 per month to avoid calamity and poverty. The renters in the city have an income of about $33,843, which would make their monthly maximum allowable rental costs $790.

      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%

      Goods & Services

      Item Oakdale National avg. Difference
      Haircut $28.67$24.2618.2%
      Beauty Salon $34.55$45.5624.2%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.30$1.281.5%
      Movie $13.47$12.1311.0%
      Bowling $21.50$18.0019.4%

      Groceries

      Item Oakdale National avg. Difference
      Ground Beef $5.49$5.845.9%
      Fried Chicken $1.35$1.5714.2%
      Milk $4.63$4.670.8%
      Potatoes $4.98$4.930.8%
      Pizza $12.49$12.093.3%
      Beer $9.36$10.4110.1%

      Health Care

      Item Oakdale National avg. Difference
      Optometrist $145.44$125.6815.7%
      Doctor $229.08$135.7868.7%
      Dentist $108.67$113.294.1%
      Ibuprofen $10.36$10.652.7%
      Lipitor $599.08$468.6027.8%

      Housing

      Item Oakdale National avg. Difference
      Home Price $232,900.00$184,700.0026.1%
      Avg. Mortgage Payment $1,941.44$2,346.6917.3%
      Apartment Rent $1,097.00$949.0015.6%

      Transportation

      Item Oakdale National avg. Difference
      Gasoline $3.38$3.462.5%
      Tire Balancing $61.74$59.923.0%

      Utilities

      Item Oakdale National avg. Difference
      All Electricity $175.38$193.999.6%
      Phone $187.39$192.252.5%
      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.
      Houlton, WI105973.3%
      Landfall, MN7967030.3%
      South End, MN657525.2%
      Hilltop, MN1,0077722.8%
      St. Anthony city (Stearns County), MN1068019.7%
      Oakdale, MN27,9251054.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Drexel Hill, PA27,9251033.4%
      Magog, QC27,928n/a 
      Jeffersontown, KY27,9331000.4%
      Winchester, VA27,91211313.0%
      Lafayette, CO27,95213838.0%
      Oakdale, MN27,9251054.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.