Big Lake, MN Cost Of Living
Cost Of Living In Big Lake, MN Summary
Cost of living in Big Lake research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Big Lake is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Minnesota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Big Lake is 103, with 100 being the average.
The cost of living index in Big Lake is 1.0x higher than the national average.
Big Lake ranks as the #65 cheapest in Minnesota out of 147.
Big Lake ranks as the #3,487 cheapest out of 6,412 in the US.
The median home value in Big Lake is $226,600.
The median income in Big Lake is $93,524.
Table Of Contents
Big Lake's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Big Lake, MN?
According to the most recent data on the cost of living, Big Lake has an overall cost of living index of 103, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Big Lake has a cost of living index that's 1.1x higher than Minnesota's index of 95.
The standard of living in Big Lake ranks as #65 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Big Lake ranks as the #82 most expensive place in the North Star State.
For more reading on life in Big Lake, check out:
- Living In Big Lake
- Big Lake Crime Report
- Search Homes For Sale In Big Lake, MN
In Minnesota
In America
Big Lake Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Big Lake. Here is how it fairs on each of the criteria:
The Services index in Big Lake is 112.
The Groceries index in Big Lake is 112.
The Health index in Big Lake is 117.
The Housing index in Big Lake is 86.
The Transportation index in Big Lake is 101.
The Utilities index in Big Lake is 101.
| Living Expense | Big Lake | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 103 | 95 | 100 | |
| Services | 112 | 101 | 100 | |
| Groceries | 112 | 98 | 100 | |
| Health | 117 | 111 | 100 | |
| Housing | 86 | 83 | 100 | |
| Transportation | 101 | 98 | 100 | |
| Utilities | 101 | 95 | 100 | |
Big Lake, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Big Lake is $226,600.
The Median Rent in Big Lake is $1,229.
The Median Income in Big Lake is $93,524.
The Home Value To Income in Big Lake is 2.4x.
The Rent To Monthly Income in Big Lake is 0.16x.
| Statistic | Big Lake | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $226,600 | $250,200 | $244,900 |
| Median Rent | $1,229 | $1,081 | $1,163 |
| Median Income | $93,524 | $77,706 | $69,021 |
| Home Value To Income | 2.4x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Big Lake, MN Costs By Category
Detailed Big Lake Services Costs Vs. Minnesota
Detailed Big Lake Groceries Costs Vs. Minnesota
Detailed Big Lake Health Costs Vs. Minnesota
Detailed Big Lake Transportation Costs Vs. Minnesota
Detailed Big Lake Utilities Costs Vs. Minnesota
Big Lake SnackAbility
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