F
24%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
88%
Housing NAT. AVG.
Search Homes for Sale
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 Eden Prairie Minnesota National
Cost of living12499100
Goods & Services95100100
Groceries9798100
Health care101109100
Housing188100100
Transportation9797100
Utilities9593100

An Overview of Cost of Living in Eden Prairie, MN

Knowing the cost of living in Eden Prairie allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Eden Prairie stands at 124, marking it 24% higher than the national average.

If affordability is among your top priorities when searching for a new place to live, this area may not be the ideal fit, as the cost of living in Eden Prairie is among the most expensive in the United States. Just a minority of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Eden Prairie falls into this category, which may not align with your goal of finding a budget-friendly living environment.

Housing costs significantly influence the Eden Prairie cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 87.8%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

Is Eden Prairie Affordable?

Wondering if Eden Prairie is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Eden Prairie, for example, the median home price is 102.9% higher than what folks pay nationally, and monthly rent is 52.8% higher than the usual rates. Plus, income levels matter too, with Eden Prairie boasting a median household income of $115,227, which is 108.3% higher than the national average.

What Factors can Influence the Cost of Living in Eden Prairie?

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 Eden Prairie, the groceries index is 2.6% lower than the national average.

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Eden Prairie, the utilities index registers 5.2% lower than the national average.

Where is the Data From?

The Eden Prairie 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.

New Real Estate Listings in Eden Prairie Area
Search Homes for Sale in Eden Prairie, MN

Cost Of Living Quick Facts

  • The cost of living in Eden Prairie is 25% higher than the Minnesota average
  • The cost of living in Eden Prairie is 24% higher than the national average
  • Eden Prairie housing is 88% 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

Most Affordable Places to Live in and Around Eden Prairie

See all the best places to live around Eden Prairie

Compare Eden Prairie, MN Cost of Living

      vs
      How would you rate the cost of living in Eden Prairie?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Eden Prairie?
      Write a review to give others more information about this area.
      See all Eden Prairie poll results

      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$131,640$10,970$3,071$3,950
      Renters$67,430$5,619$1,573$2,023
      The affordability of the housing market in Eden Prairie, 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 Eden Prairie homeowners, the median income is $131,640. This indicates that a monthly maximum of $3,071 should be spent by homeowners on all housing related costs. Renters have a median income of $67,430. This indicates that renters would have a maximum of $1,573 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 Eden Prairie National avg. Difference
      Haircut $25.86$24.266.6%
      Beauty Salon $37.00$45.5618.8%
      Toothpaste $3.62$3.702.2%
      Shampoo $1.50$1.2816.9%
      Movie $11.32$12.136.7%
      Bowling $25.68$18.0042.6%

      Groceries

      Item Eden Prairie National avg. Difference
      Ground Beef $5.75$5.841.4%
      Fried Chicken $1.40$1.5711.2%
      Milk $4.60$4.671.5%
      Potatoes $4.76$4.933.5%
      Pizza $13.00$12.097.6%
      Beer $9.44$10.419.3%

      Health Care

      Item Eden Prairie National avg. Difference
      Optometrist $112.72$125.6810.3%
      Doctor $164.15$135.7820.9%
      Dentist $95.01$113.2916.1%
      Ibuprofen $10.71$10.650.6%
      Lipitor $499.35$468.606.6%

      Housing

      Item Eden Prairie National avg. Difference
      Home Price $374,700.00$184,700.00102.9%
      Avg. Mortgage Payment $1,983.77$2,346.6915.5%
      Apartment Rent $1,450.00$949.0052.8%

      Transportation

      Item Eden Prairie National avg. Difference
      Gasoline $3.32$3.464.0%
      Tire Balancing $59.91$59.920.0%

      Utilities

      Item Eden Prairie National avg. Difference
      All Electricity $180.11$193.997.2%
      Phone $187.59$192.252.4%
      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.
      Hilltop, MN1,0077722.8%
      St. Anthony city (Stearns County), MN1068019.7%
      Columbia Heights, MN20,247991.3%
      Robbinsdale, MN14,3931000.3%
      Mendota, MN1491022.4%
      Eden Prairie, MN64,48112423.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Noblesville, IN64,4301044.2%
      Tulare, CA64,54611716.7%
      Janesville, WI64,415918.9%
      Castro Valley, CA64,39219594.9%
      Port Charlotte, FL64,3351022.0%
      Eden Prairie, MN64,48112423.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.