B-
1%
Overall NAT. AVG.
5%
Goods & Services NAT. AVG.
14%
Housing NAT. AVG.
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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.
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 Mounds View Minnesota National
Cost of living10199100
Goods & Services95100100
Groceries9798100
Health care101109100
Housing114100100
Transportation9797100
Utilities9593100

An Overview of Cost of Living in Mounds View, MN

Are you thinking about relocating, but curious about the potential cost of living in Mounds View? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Mounds View stands at 101, making it 1% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Mounds View 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. Mounds View 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.

Is Mounds View Affordable?

Is Mounds View 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 Mounds View is 20% higher than the national average, while the average monthly rent prices are 0.3% lower than average. The affordability of any location can also be influenced by median income levels. Mounds View has a median household income of $73,243, which is 32.4% higher than the national average.

What Factors can Influence the Cost of Living in Mounds View?

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Mounds View, the transportation index is 2.9% 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 Mounds View, the standard sales tax rate starts at 6.875%, and the income tax rates commence at 5.35%.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Mounds View, the housing index comes in at 13.9% higher than the national average.

Where is the Data From?

The cost of living data in Mounds View displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Mounds View is 2% higher than the Minnesota average
  • The cost of living in Mounds View is 1% higher than the national average
  • Mounds View housing is 14% 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 Mounds View

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Compare Mounds View, MN Cost of Living

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      Salary Calculator

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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$87,766$7,314$2,048$2,633
      Renters$43,614$3,635$1,018$1,309
      A good way to judge both the affordability of the housing and the cost of living in Mounds View is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Mounds View has a median income of about $87,766 for people who own homes. Based on that number, a maximum of $2,048 should be spent on expenses related to housing. Renters have a slightly different median income, which is $43,614. Based on this average, renters should spend no more than $1,018 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Mounds View 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 Mounds View 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 Mounds View 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 Mounds View National avg. Difference
      Home Price $221,600.00$184,700.0020.0%
      Avg. Mortgage Payment $1,983.77$2,346.6915.5%
      Apartment Rent $946.00$949.000.3%

      Transportation

      Item Mounds View National avg. Difference
      Gasoline $3.32$3.464.0%
      Tire Balancing $59.91$59.920.0%

      Utilities

      Item Mounds View 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.
      Landfall, MN7967030.3%
      Hilltop, MN1,0077722.8%
      St. Anthony city (Stearns County), MN1068019.7%
      Columbia Heights, MN20,247991.3%
      Brooklyn Center, MN30,755990.7%
      Mounds View, MN13,1931011.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fostoria, OH13,1938415.9%
      Waianae, HI13,19214545.1%
      Clayton, OH13,201945.6%
      Lachute, QC13,184n/a 
      Rogers, MN13,18312020.3%
      Mounds View, MN13,1931011.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.