| Index | Ramsey | Minnesota | National |
| Cost of living | 115 | 100 | 100 |
| Groceries | 101 | 100 | 100 |
| Health care | 102 | 100 | 100 |
| Housing | 150 | 100 | 100 |
| Transportation | 97 | 100 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 102 | 100 | 100 |
| Household Items | 99 | 100 | 100 |
| Education & Childcare | 97 | 99 | 100 |
Knowing the cost of living in Ramsey 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 Ramsey stands at 115, marking it 15% higher than the national average.
Housing costs make up a big chunk of the cost of living in Ramsey, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 50.4% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
Is Ramsey affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Ramsey, for instance, where the median home price falls 47.7% higher than the national average, and monthly rent rates are 56.5% higher than usual. Additionally, median income levels contribute to the equation, with Ramsey flaunting a median household income of $148,035, 82% higher than the national norm.
Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Ramsey, the transportation index is 2.8% lower than the national average.
Utilities: Similar to the prices of any goods or services, utility expenses can fluctuate widely, contingent on variables such as climate, available energy sources, geographical location and state regulations. Costs associated with electricity, water, heating, and waste disposal can differ in magnitude, depending on the specific city or state. In Ramsey, the utilities index registers at 3.8% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Ramsey, the housing index comes in at 50.4% higher than the national average.
The cost of living estimates displayed for Ramsey are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| 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 | $154,491 | $12,874 | $3,605 | $4,635 |
| Renters | $101,238 | $8,437 | $2,362 | $3,037 |
| State | General Sales Tax | With Max Surtax |
| Minnesota | 6.875% | 7.875% |
| State | Income Tax (Low) | Income Tax (High) |
| Minnesota | 5.35% | 9.85% |
| City | Population | Cost of Living Index | National Avg. |
| Hilltop, MN | 1,045 | 80 | 20.0% |
| Big Lake CDP, MN | 390 | 101 | 1.0% |
| Brooklyn Center, MN | 31,682 | 102 | 1.8% |
| Columbia Heights, MN | 21,019 | 102 | 1.9% |
| Rockford, MN | 4,595 | 102 | 1.7% |
| Ramsey, MN | 27,748 | 115 | 15.4% |
| City | Population | Cost of Living Index | National Avg. |
| Dodge City, KS | 27,746 | 87 | 13.3% |
| West Chicago, IL | 27,740 | 110 | 9.8% |
| Bristol, TN | 27,756 | 91 | 8.7% |
| Carrollton, GA | 27,734 | 98 | 2.1% |
| Shoreview, MN | 27,771 | 115 | 14.9% |
| Ramsey, MN | 27,748 | 115 | 15.4% |
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