D
14%
Overall NAT. AVG.
4%
Goods & Services NAT. AVG.
55%
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 Rosemount Minnesota National
Cost of living11499100
Goods & Services96100100
Groceries9998100
Health care101109100
Housing155100100
Transportation9897100
Utilities9493100

An Overview of Cost of Living in Rosemount, MN

The cost of living in Rosemount affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Rosemount is 114, which is 14% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

When it comes to the cost of living in Rosemount, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 55.5% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.

Is Rosemount Affordable?

Is Rosemount an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Rosemount, the median home price is 60.2% higher than what most folks pay across the country, and monthly rent prices are 44.6% higher than the usual rates. Income levels in Rosemount come in at $110,573, which is 99.9% higher than the national average.

What Factors can Influence the Cost of Living in Rosemount?

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.

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 Rosemount, the housing index comes in at 55.5% higher than the national average.

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 Rosemount, healthcare costs are 0.7% higher than the national average.

Where is the Data From?

The Rosemount 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. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Rosemount is 15% higher than the Minnesota average
  • The cost of living in Rosemount is 14% higher than the national average
  • Rosemount housing is 55% 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 Rosemount

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Compare Rosemount, MN Cost of Living

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      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$122,402$10,200$2,856$3,672
      Renters$66,118$5,510$1,543$1,984
      A good way to judge both the affordability of the housing and the cost of living in Rosemount 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. Rosemount has a median income of about $122,402 for people who own homes. Based on that number, a maximum of $2,856 should be spent on expenses related to housing. Renters have a slightly different median income, which is $66,118. Based on this average, renters should spend no more than $1,543 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 Rosemount National avg. Difference
      Haircut $28.67$24.2618.2%
      Beauty Salon $34.55$45.5624.2%
      Toothpaste $3.75$3.701.4%
      Shampoo $1.30$1.281.5%
      Movie $13.47$12.1311.0%
      Bowling $21.50$18.0019.4%

      Groceries

      Item Rosemount National avg. Difference
      Ground Beef $5.49$5.845.9%
      Fried Chicken $1.35$1.5714.2%
      Milk $4.63$4.670.8%
      Potatoes $4.98$4.930.8%
      Pizza $12.49$12.093.3%
      Beer $9.36$10.4110.1%

      Health Care

      Item Rosemount National avg. Difference
      Optometrist $145.44$125.6815.7%
      Doctor $229.08$135.7868.7%
      Dentist $108.67$113.294.1%
      Ibuprofen $10.36$10.652.7%
      Lipitor $599.08$468.6027.8%

      Housing

      Item Rosemount National avg. Difference
      Home Price $295,800.00$184,700.0060.2%
      Avg. Mortgage Payment $1,941.44$2,346.6917.3%
      Apartment Rent $1,372.00$949.0044.6%

      Transportation

      Item Rosemount National avg. Difference
      Gasoline $3.38$3.462.5%
      Tire Balancing $61.74$59.923.0%

      Utilities

      Item Rosemount National avg. Difference
      All Electricity $175.38$193.999.6%
      Phone $187.39$192.252.5%
      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%
      South End, MN657525.2%
      New Trier, MN84963.9%
      Coates, MN142991.2%
      St. Paul Park, MN5,404990.6%
      Rosemount, MN24,79211414.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Clinton, MS24,797945.8%
      Hazleton, PA24,8048910.9%
      Decatur, GA24,81414343.4%
      Paris, TX24,814945.6%
      Grande Prairie County No. 1, AB24,756n/a 
      Rosemount, MN24,79211414.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.