Woodbury, Minnesota Cost Of Living

Buy Rent

F

Overall 19%

Goods & Services 11%

Housing 51%

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	Woodbury	Minnesota	National
Cost of living	119	103	100
Goods & Services	111	108	100
Groceries	102	104	100
Health care	98	107	100
Housing	151	100	100
Transportation	105	99	100
Utilities	95	97	100

Key findings

The cost of living in Woodbury is 16% higher than the Minnesota average
The cost of living in Woodbury is 19% higher than the national average
Woodbury housing is 51% higher than the national average
Minnesota general sales tax is 35% higher than the national average
Minnesota state income tax is 117% 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	$113,993	$9,499	$2,660	$3,420
Renters	$66,623	$5,552	$1,554	$1,999

The affordability of the housing market in Woodbury, MN as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Woodbury homeowners, the median income is $113,993. This indicates that a monthly maximum of $2,660 should be spent by homeowners on all housing related costs. Renters have a median income of $66,623. This indicates that renters would have a maximum of $1,554 for their rent related monthly costs.

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	Woodbury	National avg.	Difference
Haircut	$25.02	$20.27	23.4%
Beauty Salon	$36.08	$40.39	10.7%
Toothpaste	$3.32	$2.36	40.9%
Shampoo	$1.10	$1.08	2.5%
Movie	$10.36	$10.99	5.7%
Bowling	$29.34	$15.49	89.4%

Groceries

Item	Woodbury	National avg.	Difference
Ground Beef	$4.46	$4.30	3.8%
Fried Chicken	$2.23	$1.40	59.6%
Milk	$2.55	$2.20	15.6%
Potatoes	$3.22	$3.22	0.1%
Pizza	$13.04	$10.74	21.4%
Beer	$9.00	$9.60	6.2%

Health Care

Item	Woodbury	National avg.	Difference
Optometrist	$91.05	$109.73	17.0%
Doctor	$147.35	$118.34	24.5%
Dentist	$85.40	$100.94	15.4%
Ibuprofen	$10.83	$9.93	9.0%
Lipitor	$441.75	$469.53	5.9%

Housing

Item	Woodbury	National avg.	Difference
Home Price	$282,700.00	$184,700.00	53.1%
Avg. Mortgage Payment	$1,197.54	$1,229.62	2.6%
Apartment Rent	$1,399.00	$949.00	47.4%

Transportation

Item	Woodbury	National avg.	Difference
Gasoline	$2.66	$2.71	1.8%
Tire Balancing	$60.81	$51.86	17.3%

Utilities

Item	Woodbury	National avg.	Difference
All Electricity	$158.18	$170.84	7.4%
Phone	$185.49	$187.18	0.9%

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.
Landfall, MN	793	76	24.0%
South End, MN	26	79	20.9%
Hilltop, MN	799	82	18.4%
St. Anthony city (Stearns County), MN	106	87	13.2%
Somerset, WI	2,686	99	0.9%
Woodbury, MN	66,699	119	19.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Oshkosh, WI	66,713	92	7.6%
Palo Alto, CA	66,649	303	203.1%
Portland, ME	66,649	111	11.3%
Camarillo, CA	66,630	153	53.1%
St. Cloud, MN	66,770	100	0.3%
Woodbury, MN	66,699	119	19.2%

Source: This data reflects 2021 and was released from C2ER in January, 2022; this is the most current data available.