Cost of Living in Mandan, ND

An Overview of Cost of Living in Mandan, ND

Knowing the cost of living in Mandan 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 Mandan stands at 102, marking it 2% higher than the national average.

Everyday expenditures like food, housing, goods and services, transportation and health care in Mandan are priced in a manner consistent with other areas. This means that residents of Mandan can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Mandan Affordable?

Is Mandan affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Mandan, the median home price is 20.5% higher than the national average and monthly rent prices are 7.6% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Mandan boasting a median household income of $71,357, 29% higher than the national average.

What Factors can Influence the Cost of Living in Mandan?

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 Mandan, healthcare costs are 12.6% higher than the national average.

Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Mandan, the groceries index registers 5.9% lower than the national average.

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 goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Mandan, the standard sales tax rate starts at 5%, and the income tax rates commence at 1.1%.

Where is the Data From?

The cost of living in Mandan, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.