Waconia, 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	Waconia	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

New Real Estate Listings in Waconia Area

For Sale For Rent

Search

Search Homes for Sale in Waconia, MN

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Waconia is 7% higher than the Minnesota average
The cost of living in Waconia is 11% higher than the national average
Waconia 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

Most Affordable Places to Live in and Around Waconia

See all the best places to live around Waconia

Compare Waconia, MN Cost of Living

Write a review to give others more information about this area.

See all Waconia poll results

The best places in Minnesota

Here are the best places to live in Minnesota

10 best cities to buy a new house in Minnesota

Check out the 10 safest cities in Minnesota

Top 10 best public schools in Waconia

Salary Calculator

This is how much you would need to earn in

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	$98,750	$8,229	$2,304	$2,963
Renters	$37,276	$3,106	$870	$1,118

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Waconia, 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 Waconia, homeowners have a median income of $98,750. Using that number, a maximum of $2,304 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $37,276, which means there is a maximum of $870 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	Waconia	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	Waconia	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	Waconia	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	Waconia	National avg.	Difference
Home Price	$252,200.00	$184,700.00	36.5%
Avg. Mortgage Payment	$1,209.19	$1,229.62	1.7%
Apartment Rent	$871.00	$949.00	8.2%

Transportation

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

Utilities

Item	Waconia	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.
Lester Prairie, MN	1,934	93	7.3%
Winsted, MN	2,412	94	5.7%
Howard Lake, MN	2,102	99	1.1%
New Germany, MN	404	96	4.4%
Green Isle, MN	551	90	10.0%
Waconia, MN	11,523	111	10.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Lac Ste. Anne County, AB	11,522	n/a
Lower Burrell, PA	11,527	95	4.5%
Cedarburg, WI	11,516	104	4.3%
Camden, AR	11,515	83	16.5%
Port Washington, WI	11,531	96	4.2%
Waconia, MN	11,523	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.