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.
Here we can see a simple outline of the cost of living in Pipestone, MN. As you can see, with the average cost of living in Pipestone, MN being 82, that puts it 20% lower than the average of Minnesota and 18% lower 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 Pipestone, MN, the price of goods and services are 7% lower than the average of Minnesota as well as 2% lower than the nation's average.
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Did you know?
The cost of living in Pipestone is 20% lower than the Minnesota average.
The cost of living in Pipestone is 18% lower than the national average.
The cost of housing in Pipestone is 52% lower than the national average.
Minnesota general sales tax is 35% higher than the national average.
Minnesota state income tax is 141% higher than the national average.
Compare Pipestone, MN Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Use the salary calculator to compare your current salary in Pipestone, MN to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Pipestone, MN, then you would need to earn more income in order to maintain the same standard of living. To use the Pipestone, MN salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
One can approximate the cost of living and the housing affordability in Pipestone, MN by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Pipestone, MN have a median income of $52,174. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,217 per month to avoid calamity and poverty. The renters in the city have an income of about $22,692, which would make their monthly maximum allowable rental costs $529.
Minnesota Sales Tax
General Sales Tax
With Max Surtax
Minnesota Income Tax
Income Tax (Low)
Income Tax (High)
One thing to keep in mind when considering the cost of living in Pipestone, MN is the Minnesota sales tax and Minnesota 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 Minnesota sales tax rate is 6.875% and the maximum surtax that can be charged is 7.875%. 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 Minnesota income tax rates range from 5.35% to 9.85%.
Goods & Services
Avg. Mortgage Payment
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.