Cost Of Living in Greenwood, 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	Greenwood	Minnesota	National
Cost of living	185	99	100
Goods & Services	95	100	100
Groceries	97	98	100
Health care	101	109	100
Housing	393	100	100
Transportation	97	97	100
Utilities	95	93	100

New Real Estate Listings in Greenwood Area

For Sale For Rent

Search

Search Homes for Sale in Greenwood, MN

See How Much House You Can Afford. Get Pre-Approved Today

Cost Of Living Quick Facts

The cost of living in Greenwood is 87% higher than the Minnesota average
The cost of living in Greenwood is 85% higher than the national average
Greenwood housing is 293% 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 Greenwood

See all the best places to live around Greenwood

Compare Greenwood, MN Cost of Living

Write a review to give others more information about this area.

See all Greenwood poll results

The best places in Minnesota

Here are the best places to live in Minnesota

Safest States In The US

These are the 10 cheapest cities in Minnesota

Most Dangerous Cities In The US

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	$208,958	$17,413	$4,875	$6,269
Renters	$0	$0	$0	$0

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	Greenwood	National avg.	Difference
Haircut	$25.86	$24.26	6.6%
Beauty Salon	$37.00	$45.56	18.8%
Toothpaste	$3.62	$3.70	2.2%
Shampoo	$1.50	$1.28	16.9%
Movie	$11.32	$12.13	6.7%
Bowling	$25.68	$18.00	42.6%

Groceries

Item	Greenwood	National avg.	Difference
Ground Beef	$5.75	$5.84	1.4%
Fried Chicken	$1.40	$1.57	11.2%
Milk	$4.60	$4.67	1.5%
Potatoes	$4.76	$4.93	3.5%
Pizza	$13.00	$12.09	7.6%
Beer	$9.44	$10.41	9.3%

Health Care

Item	Greenwood	National avg.	Difference
Optometrist	$112.72	$125.68	10.3%
Doctor	$164.15	$135.78	20.9%
Dentist	$95.01	$113.29	16.1%
Ibuprofen	$10.71	$10.65	0.6%
Lipitor	$499.35	$468.60	6.6%

Housing

Item	Greenwood	National avg.	Difference
Home Price	$925,000.00	$184,700.00	400.8%
Avg. Mortgage Payment	$1,983.77	$2,346.69	15.5%
Apartment Rent	$1,333.00	$949.00	40.5%

Transportation

Item	Greenwood	National avg.	Difference
Gasoline	$3.32	$3.46	4.0%
Tire Balancing	$59.91	$59.92	0.0%

Utilities

Item	Greenwood	National avg.	Difference
All Electricity	$180.11	$193.99	7.2%
Phone	$187.59	$192.25	2.4%

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, MN	1,007	77	22.8%
Columbia Heights, MN	20,247	99	1.3%
Rockford, MN	4,481	99	1.0%
Brooklyn Center, MN	30,755	99	0.7%
Spring Lake Park, MN	6,582	100	0.3%
Greenwood, MN	742	185	85.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Kirkwood, IL	742	83	17.1%
New Haven, KY	742	89	10.6%
Hillside, NY	742	128	28.3%
East Alto Bonito, TX	742	77	22.9%
Grand Coulee, SK	742	n/a
Greenwood, MN	742	185	85.1%

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 Greenwood, MN