Cost of Living in Shorewood, MN

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F
46%
Overall NAT. AVG.
0%
Groceries NAT. AVG.
154%
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 Shorewood Minnesota National
Cost of living146100100
Groceries100100100
Health care97100100
Housing254100100
Transportation102100100
Utilities106104100
Lifestyle & Entertainment96100100
Household Items100100100
Education & Childcare10599100
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Homes For Sale In Shorewood, MN

property for sale

20545 Linden Rd

Excelsior, MN
property for sale

35 Center St

Excelsior, MN
property for sale

5465 Gideons Ln

Excelsior, MN
property for sale

25695 Maple View Ct

Excelsior, MN
See the Newest Homes For Sale In Shorewood, MN

Cost Of Living Quick Facts

  • The cost of living in Shorewood is 46% higher than the Minnesota average
  • The cost of living in Shorewood is 46% higher than the national average
  • Shorewood housing is 154% 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

Most Affordable Places to Live in and Around Shorewood

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      Salary Calculator

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      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$217,079$18,090$5,065$6,513
      Renters$144,449$12,037$3,370$4,334
      To approximate the cost of living and the housing affordability in Shorewood, 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 Shorewood have a median income of $217,079. Therefore, the amount that a consumer should spend on housing costs should be no more than $5,065 per month to avoid calamity and poverty. The renters in the city have an income of about $144,449, which would make their monthly maximum allowable rental costs $3,370.

      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.
      Brooklyn Center, MN31,6821021.8%
      Rockford, MN4,5951021.7%
      Robbinsdale, MN14,7671033.3%
      Watertown, MN4,6461044.0%
      Fridley, MN28,7181044.1%
      Shorewood, MN8,21214646.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      West Dundee, IL8,21311615.7%
      Bennettsville, SC8,2138514.8%
      Duvall, WA8,21016565.4%
      Selah, WA8,21011616.4%
      Drummond/North Elmsley, ON8,210n/a 
      Shorewood, MN8,21214646.5%
      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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