Forest Lake, MN Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Forest Lake, MN Summary

Cost of living in Forest 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 Forest 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 Forest Lake is 110, with 100 being the average.

  • The cost of living index in Forest Lake is 1.1x higher than the national average.

  • Forest Lake ranks as the #103 cheapest in Minnesota out of 147.

  • Forest Lake ranks as the #4,128 cheapest out of 6,412 in the US.

  • The median home value in Forest Lake is $299,800.

  • The median income in Forest Lake is $87,753.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
110
Forest Lake's Overall Cost Of Living
1.1x
Higher Than The National Average

What is the cost of living in Forest Lake, MN?

According to the most recent data on the cost of living, Forest Lake has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.

Compared to Minnesota, Forest Lake has a cost of living index that's 1.2x higher than Minnesota's index of 95.

The standard of living in Forest Lake ranks as #103 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Forest Lake ranks as the #44 most expensive place in the North Star State.

For more reading on life in Forest Lake, check out:

103 out of 147
In Minnesota
4,128 out of 6,412
In America

Forest Lake Cost Of Living Vs. Minnesota

Six factors go into calculating the cost of living index in Forest Lake. Here is how it fairs on each of the criteria:

  • The Services index in Forest Lake is 112.

  • The Groceries index in Forest Lake is 103.

  • The Health index in Forest Lake is 104.

  • The Housing index in Forest Lake is 118.

  • The Transportation index in Forest Lake is 103.

  • The Utilities index in Forest Lake is 97.

Living Expense Forest Lake Minnesota National Average
Overall 110 95 100
Services 112 101 100
Groceries 103 98 100
Health 104 111 100
Housing 118 83 100
Transportation 103 98 100
Utilities 97 95 100
For more reading on cost of living around Minnesota, check out:
Forest Lake Cost of Living Vs. MN

Forest 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 Forest Lake is $299,800.

  • The Median Rent in Forest Lake is $1,174.

  • The Median Income in Forest Lake is $87,753.

  • The Home Value To Income in Forest Lake is 3.4x.

  • The Rent To Monthly Income in Forest Lake is 0.16x.

Statistic Forest Lake Minnesota United States
Median Home Value $299,800 $250,200 $244,900
Median Rent $1,174 $1,081 $1,163
Median Income $87,753 $77,706 $69,021
Home Value To Income 3.4x 3.2x 3.5x
Rent To Monthly Income 0.16x 0.17x 0.2x
Search Homes For Sale In Forest Lake, MN
$299,800
Median Home Value
$1,174
Median Rent
$87,753
Median Income

Forest Lake, MN Costs By Category

Detailed Forest Lake Services Costs Vs. Minnesota

Item Forest Lake Minnesota
Shampoo $1.11 $1.06
Movie $10.55 $10.68
Bowling $25.79 $14.67
Haircut $25.21 $18.62
Beauty Salon $35.12 $39.05

Detailed Forest Lake Groceries Costs Vs. Minnesota

Item Forest Lake Minnesota
Ground Beef $4.45 $4.22
Fried Chicken $2.2 $1.39
Milk $2.59 $2.05
Potatoes $3.33 $3.29
Pizza $12.95 $10.62
Beer $9.01 $9.38
Toothpaste $3.37 $2.34

Detailed Forest Lake Health Costs Vs. Minnesota

Item Forest Lake Minnesota
Optometrist $90.27 $108.57
Doctor $148.38 $116.17
Dentist $86.91 $99.13

Detailed Forest Lake Transportation Costs Vs. Minnesota

Item Forest Lake Minnesota
Gasoline $2.06 $2.22
Tire Balancing $59.83 $50.07

Detailed Forest Lake Utilities Costs Vs. Minnesota

Item Forest Lake Minnesota
All Electricity $156.09 $167.67
Phone $182.1 $175.64

Forest Lake SnackAbility

8
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
8
Diversity
7
Safety
6
Amenities
8
Education
8.5
Commute
6

Cost Of Living In Cities Around Forest Lake

The cost of living varies in the cities and towns around Forest Lake. Here's a quick look at the cost of living in the most populous nearby places:

  • Roseville, MN has a cost of living index of 107, 1.0x Forest Lake.

  • Andover, MN has a cost of living index of 114, 1.0x Forest Lake.

  • Shoreview, MN has a cost of living index of 110, 1.0x Forest Lake.

City Population Cost Of Living Vs. Forest Lake
Roseville, MN 36,119 107 1.0x
Andover, MN 32,471 114 1.0x
Shoreview, MN 26,871 110 1.0x
Lino Lakes, MN 21,180 114 1.0x
Ham Lake, MN 16,389 114 1.0x
Hugo, MN 15,541 112 1.0x
Vadnais Heights, MN 12,931 106 1.0x
Lake Elmo, MN 11,237 125 1.1x
Arden Hills, MN 9,868 120 1.1x
Mahtomedi, MN 8,041 118 1.1x

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