Shoreview, Minnesota Cost Of Living

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Overall 13%

Goods & Services 14%

Housing 27%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; 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	Shoreview	Minnesota	National
Cost of living	113	104	100
Goods & Services	114	109	100
Groceries	103	106	100
Health care	105	110	100
Housing	127	100	100
Transportation	102	100	100
Utilities	96	98	100

Key findings

The cost of living in Shoreview is 9% higher than the Minnesota average
The cost of living in Shoreview is 13% higher than the national average
Shoreview housing is 27% higher than the national average
Minnesota general sales tax is 35% higher than the national average
Minnesota state income tax is 117% higher than the national average

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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	$95,500	$7,958	$2,228	$2,865
Renters	$50,947	$4,246	$1,189	$1,529

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Shoreview, MN, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Shoreview, homeowners have a median income of $95,500. Using that number, a maximum of $2,228 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $50,947, which means there is a maximum of $1,189 to be spent on the costs of renting a home or apartment.

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	Shoreview	National avg.	Difference
Haircut	$24.42	$17.49	39.6%
Beauty Salon	$36.27	$38.17	5.0%
Toothpaste	$3.37	$2.32	45.2%
Shampoo	$1.09	$1.01	7.7%
Movie	$10.63	$10.72	0.9%
Bowling	$24.38	$13.86	75.9%

Groceries

Item	Shoreview	National avg.	Difference
Ground Beef	$4.47	$3.90	14.6%
Fried Chicken	$2.18	$1.40	56.2%
Milk	$2.59	$1.96	32.0%
Potatoes	$3.37	$3.18	5.9%
Pizza	$12.80	$10.39	23.1%
Beer	$9.03	$9.23	2.2%

Health Care

Item	Shoreview	National avg.	Difference
Optometrist	$90.86	$106.34	14.6%
Doctor	$150.51	$115.25	30.6%
Dentist	$89.86	$98.38	8.7%
Ibuprofen	$11.62	$9.26	25.5%
Lipitor	$439.95	$466.47	5.7%

Housing

Item	Shoreview	National avg.	Difference
Home Price	$238,100.00	$184,700.00	28.9%
Avg. Mortgage Payment	$1,353.04	$1,273.32	6.3%
Apartment Rent	$1,157.00	$949.00	21.9%

Transportation

Item	Shoreview	National avg.	Difference
Gasoline	$2.48	$2.59	4.3%
Tire Balancing	$56.64	$48.90	15.8%

Utilities

Item	Shoreview	National avg.	Difference
All Electricity	$157.40	$167.60	6.1%
Phone	$179.21	$163.42	9.7%

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, State	Population	Cost of Living Index	National Avg.
Landfall, MN	793	77	-23%
South End, MN	26	80	-20%
Hilltop, MN	799	83	-17%
St. Anthony city (Stearns County), MN	106	88	-12%
Brooklyn Center, MN	30,785	100	0%
Shoreview, MN	26,161	113	13%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
East Lake-Orient Park, FL	26,160	87	-13%
Smithtown, NY	26,162	150	50%
University Park, FL	26,150	112	12%
Clinton, IA	26,148	86	-14%
Kingsville, TX	26,177	86	-14%
Shoreview, MN	26,161	113	13%

Source: The Shoreview, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Shoreview, MN Cost of Living

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