Cost Of Living in The Lakes, MN

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	The Lakes	Minnesota	National
Cost of living	114	99	100
Goods & Services	91	100	100
Groceries	97	98	100
Health care	103	109	100
Housing	167	100	100
Transportation	91	97	100
Utilities	84	93	100

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Cost Of Living Quick Facts

The cost of living in The Lakes is 15% higher than the Minnesota average
The cost of living in The Lakes is 14% higher than the national average
The Lakes housing is 67% higher than the national average
Minnesota general sales tax is 35% higher than the national average
Minnesota state income tax is 106% 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	$87,500	$7,292	$2,042	$2,625
Renters	$85,625	$7,135	$1,998	$2,569

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	The Lakes	National avg.	Difference
Haircut	$24.32	$24.26	0.2%
Beauty Salon	$35.22	$45.56	22.7%
Toothpaste	$3.80	$3.70	2.7%
Shampoo	$1.29	$1.28	0.7%
Movie	$9.36	$12.13	22.9%
Bowling	$16.40	$18.00	8.9%

Groceries

Item	The Lakes	National avg.	Difference
Ground Beef	$5.89	$5.84	0.8%
Fried Chicken	$1.41	$1.57	10.4%
Milk	$4.75	$4.67	1.7%
Potatoes	$4.63	$4.93	6.2%
Pizza	$10.64	$12.09	12.0%
Beer	$9.33	$10.41	10.4%

Health Care

Item	The Lakes	National avg.	Difference
Optometrist	$135.10	$125.68	7.5%
Doctor	$177.33	$135.78	30.6%
Dentist	$108.21	$113.29	4.5%
Ibuprofen	$10.48	$10.65	1.7%
Lipitor	$357.08	$468.60	23.8%

Housing

Item	The Lakes	National avg.	Difference
Home Price	$308,900.00	$184,700.00	67.2%
Avg. Mortgage Payment	$2,133.89	$2,346.69	9.1%
Apartment Rent	$0.00	$949.00	100.0%

Transportation

Item	The Lakes	National avg.	Difference
Gasoline	$3.28	$3.46	5.3%
Tire Balancing	$49.42	$59.92	17.5%

Utilities

Item	The Lakes	National avg.	Difference
All Electricity	$141.67	$193.99	27.0%
Phone	$194.04	$192.25	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.
Hadley, MN	56	92	8.3%
Dovray, MN	41	70	29.5%
Westbrook, MN	900	79	20.9%
Lake Wilson, MN	220	75	24.7%
Avoca, MN	115	76	24.4%
The Lakes, MN	661	114	14.4%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Paxton, FL	661	87	12.8%
Troy, IN	661	86	13.8%
Clinton, MT	661	100	0.2%
Virginia City, NV	661	132	32.2%
Delaware Water Gap, PA	661	104	4.5%
The Lakes, MN	661	114	14.4%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in The Lakes, MN