St. Louis Park, Minnesota Cost Of Living

D-

11%

Overall NAT. AVG.

10%

Goods & Services NAT. AVG.

23%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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	St. Louis Park	Minnesota	National
Cost of living	111	103	100
Goods & Services	110	108	100
Groceries	102	104	100
Health care	98	107	100
Housing	123	100	100
Transportation	106	99	100
Utilities	97	97	100

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Cost Of Living Quick Facts

The cost of living in St. Louis Park is 7% higher than the Minnesota average
The cost of living in St. Louis Park is 11% higher than the national average
St. Louis Park housing is 23% higher than the national average
Minnesota general sales tax is 35% higher than the national average
Minnesota state income tax is 137% 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	$88,099	$7,342	$2,056	$2,643
Renters	$49,705	$4,142	$1,160	$1,491

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in St. Louis Park, 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 St. Louis Park, homeowners have a median income of $88,099. Using that number, a maximum of $2,056 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $49,705, which means there is a maximum of $1,160 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	St. Louis Park	National avg.	Difference
Haircut	$24.99	$20.27	23.3%
Beauty Salon	$35.26	$40.39	12.7%
Toothpaste	$3.35	$2.36	41.9%
Shampoo	$1.11	$1.08	3.4%
Movie	$9.80	$10.99	10.8%
Bowling	$28.70	$15.49	85.3%

Groceries

Item	St. Louis Park	National avg.	Difference
Ground Beef	$4.25	$4.30	1.2%
Fried Chicken	$2.02	$1.40	44.1%
Milk	$2.52	$2.20	14.4%
Potatoes	$3.23	$3.22	0.4%
Pizza	$13.00	$10.74	21.1%
Beer	$9.02	$9.60	6.0%

Health Care

Item	St. Louis Park	National avg.	Difference
Optometrist	$90.04	$109.73	17.9%
Doctor	$145.70	$118.34	23.1%
Dentist	$87.08	$100.94	13.7%
Ibuprofen	$10.75	$9.93	8.2%
Lipitor	$439.28	$469.53	6.4%

Housing

Item	St. Louis Park	National avg.	Difference
Home Price	$236,900.00	$184,700.00	28.3%
Avg. Mortgage Payment	$1,209.19	$1,229.62	1.7%
Apartment Rent	$1,051.00	$949.00	10.7%

Transportation

Item	St. Louis Park	National avg.	Difference
Gasoline	$2.67	$2.71	1.5%
Tire Balancing	$61.39	$51.86	18.4%

Utilities

Item	St. Louis Park	National avg.	Difference
All Electricity	$162.80	$170.84	4.7%
Phone	$184.36	$187.18	1.5%

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	Population	Cost of Living Index	National Avg.
South End, MN	26	79	20.9%
Hilltop, MN	799	82	18.4%
St. Anthony city (Stearns County), MN	106	87	13.2%
Brooklyn Center, MN	30,785	99	1.5%
Lexington, MN	1,965	100	0.2%
St. Louis Park, MN	47,486	111	10.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bel Air South, MD	47,480	115	14.5%
Cedar Hill, TX	47,457	100	0.3%
Lawrence, IN	47,415	89	10.9%
Wauwatosa, WI	47,388	102	1.5%
Woodstock, ON	47,584	n/a
St. Louis Park, MN	47,486	111	10.7%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.