The Lakes cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexThe LakesMinnesotaNational
Cost of living index111102100
IndexThe LakesMinnesotaNational
Goods & Services index98105100
Groceries index95106100
Health care index109113100
Housing index145100100
Transportation index94103100
Utilities index8989100

Did you know?

  • The cost of living in The Lakes is 8% higher than the Minnesota average.
  • The cost of living in The Lakes is 11% higher than the national average.
  • The cost of housing in The Lakes is 45% higher than the national average.
  • Minnesota general sales tax is 35% higher than the national average.
  • Minnesota state income tax is 141% higher than the national average.

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Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,111$5,926$1,659$2,134
Renters$88,750$7,396$2,071$2,663

Minnesota Sales Tax

StateGeneral Sales TaxWith Max Surtax
Minnesota6.875%7.875%

Minnesota Income Tax

StateIncome Tax (Low)Income Tax (High)
Minnesota5.35%9.85%

Goods & Services

ItemThe LakesNational avg.Difference
Haircut $13.62$16.0915.3%
Beauty Salon $28.24$37.3324.4%
Toothpaste $2.74$2.4512.1%
Shampoo $0.95$1.004.8%
Movie $9.39$10.288.7%
Bowling $4.14$4.9316.0%

Groceries

ItemThe LakesNational avg.Difference
Ground Beef $2.86$3.8024.8%
Fried Chicken $1.31$1.406.0%
Milk $2.02$2.010.6%
Potatoes $2.06$3.0131.5%
Pizza $10.68$9.898.1%
Beer $8.61$8.903.2%

Health Care

ItemThe LakesNational avg.Difference
Optometrist $119.54$102.1617.0%
Doctor $124.44$108.3614.8%
Dentist $97.87$92.535.8%
Ibuprofen $8.99$9.283.1%
Lipitor $460.07$425.828.0%

Housing

ItemThe LakesNational avg.Difference
Home Price $295,100.00$184,700.0059.8%
Avg. Mortgage Payment $1,058.27$1,202.4412.0%
Apartment Rent $1,054.00$949.0011.1%

Transportation

ItemThe LakesNational avg.Difference
Gasoline $2.16$2.243.7%
Tire Balancing $41.34$46.2910.7%

Utilities

ItemThe LakesNational avg.Difference
All Electricity$147.73$165.9611.0%
Phone $25.75$28.6810.2%
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, StatePopulationCost of Living IndexNational Avg.
Hadley, MN4596-4%
Avoca, MN8773-27%
Dovray, MN6273-27%
Walnut Grove, MN79781-19%
Westbrook, MN81882-18%
The Lakes, MN69411111%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Damascus, VA69485-15%
Payne Springs, TX69487-13%
Moyie Springs, ID69489-11%
Mermentau, LA69479-21%
Upper Marlboro, MD69412020%
The Lakes, MN69411111%
Source: The The Lakes, MN cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.