Cost of living in Byron 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 Byron 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 Byron is 103, with 100 being the average.
The cost of living index in Byron is 1.0x higher than the national average.
Byron ranks as the #65 cheapest in Minnesota out of 147.
Byron ranks as the #3,487 cheapest out of 6,412 in the US.
The median home value in Byron is $259,800.
The median income in Byron is $112,622.
According to the most recent data on the cost of living, Byron has an overall cost of living index of 103, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Byron has a cost of living index that's 1.1x higher than Minnesota's index of 95.
The standard of living in Byron ranks as #65 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Byron ranks as the #82 most expensive place in the North Star State.
For more reading on life in Byron, check out:
Six factors go into calculating the cost of living index in Byron. Here is how it fairs on each of the criteria:
The Services index in Byron is 115.
The Groceries index in Byron is 103.
The Health index in Byron is 104.
The Housing index in Byron is 97.
The Transportation index in Byron is 104.
The Utilities index in Byron is 95.
|Living Expense||Byron||Minnesota||National Average|
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 Byron is $259,800.
The Median Rent in Byron is $1,000.
The Median Income in Byron is $112,622.
The Home Value To Income in Byron is 2.3x.
The Rent To Monthly Income in Byron is 0.11x.
|Median Home Value||$259,800||$250,200||$244,900|
|Home Value To Income||2.3x||3.2x||3.5x|
|Rent To Monthly Income||0.11x||0.17x||0.2x|
The cost of living varies in the cities and towns around Byron. Here's a quick look at the cost of living in the most populous nearby places:
Rochester, MN has a cost of living index of 95, 0.9x Byron.
Owatonna, MN has a cost of living index of 92, 0.9x Byron.
Winona, MN has a cost of living index of 94, 0.9x Byron.
|City||Population||Cost Of Living||Vs. Byron|