Golden Valley, MN Cost Of Living
Cost Of Living In Golden Valley, MN Summary
Cost of living in Golden Valley 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 Golden Valley 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 Golden Valley is 118, with 100 being the average.
The cost of living index in Golden Valley is 1.2x higher than the national average.
Golden Valley ranks as the #126 cheapest in Minnesota out of 148.
Golden Valley ranks as the #4,280 cheapest out of 6,489 in the US.
The median home value in Golden Valley is $426,168.
The median income in Golden Valley is $114,435.
Table Of Contents
Golden Valley's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Golden Valley, MN?
According to the most recent data on the cost of living, Golden Valley has an overall cost of living index of 118, which is 1.2x higher than the national index of 100.
Compared to Minnesota, Golden Valley has a cost of living index that's 1.2x higher than Minnesota's index of 97.
The standard of living in Golden Valley ranks as #126 most affordable out of the 148 places we measured in Minnesota. By definition, that implies Golden Valley ranks as the #22 most expensive place in the North Star State.
For more reading on life in Golden Valley, check out:
In Minnesota
In America
Golden Valley Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Golden Valley. Here is how it fairs on each of the criteria:
The Services index in Golden Valley is 97.
The Groceries index in Golden Valley is 98.
The Health index in Golden Valley is 102.
The Housing index in Golden Valley is 169.
The Transportation index in Golden Valley is 95.
The Utilities index in Golden Valley is 95.
| Living Expense | Golden Valley | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 118 | 97 | 100 | |
| Services | 97 | 101 | 100 | |
| Groceries | 98 | 99 | 100 | |
| Health | 102 | 110 | 100 | |
| Housing | 169 | 100 | 100 | |
| Transportation | 95 | 95 | 100 | |
| Utilities | 95 | 94 | 100 | |
Golden Valley, 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 2019-2023. The key points are:
The Median Home Value in Golden Valley is $426,168.
The Median Rent in Golden Valley is $1,815.
The Median Income in Golden Valley is $114,435.
The Home Value To Income in Golden Valley is 3.7x.
The Rent To Monthly Income in Golden Valley is 0.19x.
| Statistic | Golden Valley | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $426,168 | $344,484 | $303,400 |
| Median Rent | $1,815 | $1,235 | $1,348 |
| Median Income | $114,435 | $87,556 | $78,538 |
| Home Value To Income | 3.7x | 3.9x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
Golden Valley, MN Costs By Category
Detailed Golden Valley Services Costs Vs. Minnesota
| Item | Golden Valley | Minnesota |
|---|---|---|
| Shampoo | $1.5 | $1.28 |
| Movie | $11.32 | $12.13 |
| Bowling | $25.68 | $18 |
| Haircut | $25.86 | $24.26 |
| Beauty Salon | $37.0 | $45.56 |
Detailed Golden Valley Groceries Costs Vs. Minnesota
| Item | Golden Valley | Minnesota |
|---|---|---|
| Ground Beef | $5.75 | $5.84 |
| Fried Chicken | $1.4 | $1.57 |
| Milk | $4.6 | $4.67 |
| Potatoes | $4.76 | $4.93 |
| Pizza | $13.0 | $12.09 |
| Beer | $9.44 | $10.41 |
| Toothpaste | $3.62 | $3.7 |
Detailed Golden Valley Health Costs Vs. Minnesota
| Item | Golden Valley | Minnesota |
|---|---|---|
| Optometrist | $112.72 | $125.68 |
| Doctor | $164.15 | $135.78 |
| Dentist | $95.01 | $113.29 |
Detailed Golden Valley Transportation Costs Vs. Minnesota
| Item | Golden Valley | Minnesota |
|---|---|---|
| Gasoline | $3.32 | $3.46 |
| Tire Balancing | $59.91 | $59.92 |
Detailed Golden Valley Utilities Costs Vs. Minnesota
| Item | Golden Valley | Minnesota |
|---|---|---|
| All Electricity | $180.11 | $193.99 |
| Phone | $187.59 | $192.25 |
Golden Valley SnackAbility
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Cost Of Living In Cities Around Golden Valley
The cost of living varies in the cities and towns around Golden Valley. Here's a quick look at the cost of living in the most populous nearby places:
Minneapolis, MN has a cost of living index of 110, 0.9x Golden Valley.
Plymouth, MN has a cost of living index of 124, 1.1x Golden Valley.
Maple Grove, MN has a cost of living index of 118, 1.0x Golden Valley.
| City | Population | Cost Of Living | Vs. Golden Valley |
|---|---|---|---|
| Minneapolis, MN | 426,845 | 110 | 0.9x |
| Plymouth, MN | 79,526 | 124 | 1.1x |
| Maple Grove, MN | 70,539 | 118 | 1.0x |
| Eden Prairie, MN | 63,249 | 124 | 1.1x |
| Minnetonka, MN | 53,256 | 120 | 1.0x |
| Edina, MN | 53,125 | 139 | 1.2x |
| St. Louis Park, MN | 49,541 | 112 | 0.9x |
| Brooklyn Center, MN | 32,811 | 101 | 0.9x |
| Shoreview, MN | 26,724 | 111 | 0.9x |
| Crystal, MN | 22,685 | 103 | 0.9x |
