B-
2%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
8%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Minot North Dakota National
Cost of living10294100
Goods & Services9996100
Groceries9293100
Health care115111100
Housing10885100
Transportation104100100
Utilities9799100

An Overview of Cost of Living in Minot, ND

Are you thinking about relocating, but curious about the potential cost of living in Minot? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Minot stands at 102, making it 2% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

Everyday expenditures like food, housing, goods and services, transportation and health care in Minot are priced in a manner consistent with other areas. This means that residents of Minot can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

What Do Locals Say About the Cost of Living in Minot?

Nobody knows their city better than the people who actually live there. So, we asked 12 local residents how they would rate the cost of living in Minot and this is how they responded. 67% of people said that the cost of living was affordable, with prices decreasing, while 33% of people said that the cost of living was very expensive and prices continue to rise.

Is Minot Affordable?

Is Minot 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 Minot, the median home price is 14.2% higher than what most folks pay across the country, and monthly rent prices are 7.1% lower than the usual rates. Income levels in Minot come in at $64,401, which is 16.4% higher than the national average.

What Factors can Influence the Cost of Living in Minot?

Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Minot, the utilities index stands at 3% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Minot, the standard sales tax rate starts at 5%, and the income tax rates commence at 1.1%.

Housing: High demand for housing in desirable locations can drive up property prices and rental rates. This can be a primary contributor to a higher cost of living. While low demand for housing, especially in undesirable locations, can have the reverse effect and drive prices down, resulting in a lower cost of living. The housing index in Minot, is 7.8% higher than the national average.

Where is the Data From?

The Minot cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Minot is 8% higher than the North Dakota average
  • The cost of living in Minot is 2% higher than the national average
  • Minot housing is 8% higher than the national average
  • North Dakota general sales tax is 2% lower than the national average
  • North Dakota state income tax is 58% lower than the national average

Most Affordable Places to Live in and Around Minot

See all the best places to live around Minot

Compare Minot, ND Cost of Living

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      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$84,263$7,022$1,966$2,528
      Renters$41,402$3,450$966$1,242
      A good indicator of the general affordability of housing in Minot, ND, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Minot, the median monthly income is $84,263 for those who own their own homes. Under the standard rule, that income level would allow for $1,966 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $41,402, per the median income in the area. That would allow for renters to spend up to $966 on monthly rental expenses.

      North Dakota Sales Tax

      State General Sales Tax With Max Surtax
      North Dakota 5% 8%

      North Dakota Income Tax

      State Income Tax (Low) Income Tax (High)
      North Dakota 1.1% 2.9%

      Goods & Services

      Item Minot National avg. Difference
      Haircut $19.55$24.2619.4%
      Beauty Salon $47.78$45.564.9%
      Toothpaste $3.74$3.701.0%
      Shampoo $1.12$1.2812.5%
      Movie $12.67$12.134.4%
      Bowling $7.50$18.0058.3%

      Groceries

      Item Minot National avg. Difference
      Ground Beef $5.62$5.843.8%
      Fried Chicken $1.41$1.5710.4%
      Milk $4.48$4.674.1%
      Potatoes $4.65$4.935.7%
      Pizza $12.31$12.091.8%
      Beer $10.75$10.413.3%

      Health Care

      Item Minot National avg. Difference
      Optometrist $140.01$125.6811.4%
      Doctor $166.95$135.7823.0%
      Dentist $135.25$113.2919.4%
      Ibuprofen $10.02$10.655.9%
      Lipitor $518.15$468.6010.6%

      Housing

      Item Minot National avg. Difference
      Home Price $211,000.00$184,700.0014.2%
      Avg. Mortgage Payment $1,924.65$2,346.6918.0%
      Apartment Rent $882.00$949.007.1%

      Transportation

      Item Minot National avg. Difference
      Gasoline $3.40$3.461.9%
      Tire Balancing $71.21$59.9218.8%

      Utilities

      Item Minot National avg. Difference
      All Electricity $182.72$193.995.8%
      Phone $194.52$192.251.2%
      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 Population Cost of Living Index National Avg.
      Ruthville, ND1257129.1%
      Deering, ND1328614.1%
      Des Lacs, ND2648713.2%
      Foxholm, ND22945.8%
      Sawyer, ND278964.3%
      Minot, ND47,8341021.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Dublin, OH47,82412424.0%
      Covina, CA47,78715858.4%
      Monroe, LA47,9068614.2%
      Roswell, NM47,7518514.6%
      Cornwall, ON47,736n/a 
      Minot, ND47,8341021.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.