| Index | St. Louis Park | Minnesota | National |
| Cost of living | 116 | 100 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 151 | 100 | 100 |
| Transportation | 101 | 100 | 100 |
| Utilities | 103 | 104 | 100 |
| Lifestyle & Entertainment | 103 | 100 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 104 | 99 | 100 |
Getting a feel for the cost of living in St. Louis Park is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in St. Louis Park is 116, which is 16% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Housing costs are a major factor in the St. Louis Park 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 50.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
The most insightful perspective on a city comes from its residents. We recently surveyed 13 locals to gauge their perception of the cost of living in St. Louis Park. The feedback revealed that 38% of respondents found the cost of living to be reasonable, with prices on the decline, while 62% regarded it as notably expensive with prices that continue to rise.
Is St. Louis Park an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in St. Louis Park, the median home price is 57.6% higher than what most folks pay across the country, and monthly rent prices are 34.5% higher than the usual rates. Income levels in St. Louis Park come in at $126,616, which is 55.7% higher than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In St. Louis Park, the groceries index is 1.3% lower than the national average.
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 St. Louis Park, the transportation index is 1.3% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In St. Louis Park, healthcare costs are 0.6% higher than the national average.
The cost of living estimates displayed for St. Louis Park 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.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $160,582 | $13,382 | $3,747 | $4,818 |
| Renters | $92,244 | $7,687 | $2,152 | $2,768 |
| 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. |
| South End, MN | 66 | 78 | 22.1% |
| Hilltop, MN | 1,045 | 80 | 20.0% |
| St. Anthony city (Stearns County), MN | 108 | 84 | 16.4% |
| Brooklyn Center, MN | 31,682 | 102 | 1.8% |
| Columbia Heights, MN | 21,019 | 102 | 1.9% |
| St. Louis Park, MN | 50,208 | 116 | 15.8% |
| City | Population | Cost of Living Index | National Avg. |
| Georgina, ON | 50,195 | n/a | |
| Portage, MI | 50,237 | 97 | 2.6% |
| Cuyahoga Falls, OH | 50,241 | 91 | 8.7% |
| North Highlands, CA | 50,172 | 119 | 18.7% |
| Columbus, IN | 50,148 | 96 | 3.6% |
| St. Louis Park, MN | 50,208 | 116 | 15.8% |
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