Cost of Living in St. Cloud, MN

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An Overview of Cost of Living in St. Cloud, MN

The cost of living in St. Cloud affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in St. Cloud is 99, which is 1% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

The cost of living in St. Cloud aligns closely with the national average when compared to other cities across the nation. Everyday essentials such as groceries, goods and services, health care and utility bills are priced at a level consistent with the average in similar urban areas. St. Cloud residents can anticipate that their daily expenses won't be significantly higher than those in an average city, ensuring that the cost of living remains manageable.

What Do Locals Say About the Cost of Living in St. Cloud?

The real experts on a city are its residents. That's why we reached out to 11 locals to get their views on the cost of living in St. Cloud. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 36% found it budget-friendly with decreasing prices, while 64% said it's simply not affordable as prices have continued to rise.

Is St. Cloud Affordable?

Is St. Cloud an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in St. Cloud is 14.2% lower than the national average, while the average monthly rent prices are 13.5% lower than average. The affordability of any location can also be influenced by median income levels. St. Cloud has a median household income of $50,335, which is 9% lower than the national average.

What Factors can Influence the Cost of Living in St. Cloud?

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In St. Cloud, healthcare costs are 24.3% higher than the national average.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In St. Cloud, the groceries index is 2.9% lower than the national average.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In St. Cloud, the transportation index is 0.9% lower than the national average.

Where is the Data From?

The St. Cloud 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

Most Affordable Places to Live in and Around St. Cloud

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Median Income & Debt-To-Income Ratio

A good indicator of the general affordability of housing in St. Cloud, MN, 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 St. Cloud, the median monthly income is $72,612 for those who own their own homes. Under the standard rule, that income level would allow for $1,694 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $32,394, per the median income in the area. That would allow for renters to spend up to $756 on monthly rental expenses.

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Minnesota Income Tax

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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.

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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.