| Index | North Mankato | Minnesota | National |
| Cost of living | 102 | 100 | 100 |
| Groceries | 100 | 100 | 100 |
| Health care | 101 | 100 | 100 |
| Housing | 105 | 100 | 100 |
| Transportation | 97 | 100 | 100 |
| Utilities | 106 | 104 | 100 |
| Lifestyle & Entertainment | 99 | 100 | 100 |
| Household Items | 97 | 100 | 100 |
| Education & Childcare | 104 | 99 | 100 |
Getting a feel for the cost of living in North Mankato is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in North Mankato is 102, which is 2% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
The cost of living in North Mankato is about average when compared to all other cities across the nation. You can expect that everyday items like food, household expenses and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.
Is North Mankato affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take North Mankato, for instance, where the median home price falls 12.7% higher than the national average, and monthly rent rates are 12.3% lower than usual. Additionally, median income levels contribute to the equation, with North Mankato flaunting a median household income of $106,059, 30.4% higher than the national norm.
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 household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In North Mankato, the standard sales tax rate starts at 6.875%, and the income tax rates commence at 5.35%.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In North Mankato, healthcare costs are 0.5% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In North Mankato, the groceries index is 0.4% higher than the national average.
The cost of living estimates displayed for North Mankato are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $130,175 | $10,848 | $3,037 | $3,906 |
| Renters | $54,212 | $4,518 | $1,265 | $1,627 |
| State | General Sales Tax | With Max Surtax |
| Minnesota | 6.875% | 7.875% |
| State | Income Tax (Low) | Income Tax (High) |
| Minnesota | 5.35% | 9.85% |
| City | Population | Cost of Living Index | National Avg. |
| Kasota, MN | 755 | 91 | 9.1% |
| Good Thunder, MN | 569 | 91 | 8.5% |
| St. Clair, MN | 779 | 95 | 5.0% |
| Cleveland, MN | 819 | 95 | 4.7% |
| Garden City, MN | 243 | 96 | 4.2% |
| North Mankato, MN | 14,344 | 102 | 1.8% |
| City | Population | Cost of Living Index | National Avg. |
| Lakeland North, WA | 14,342 | 135 | 35.5% |
| Waunakee, WI | 14,346 | 122 | 21.6% |
| Greenwood, MS | 14,347 | 82 | 17.6% |
| Chicago Ridge, IL | 14,340 | 99 | 1.3% |
| Lavaltrie, QC | 14,339 | n/a | |
| North Mankato, MN | 14,344 | 102 | 1.8% |
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