Lake City, MN Cost Of Living
Cost Of Living In Lake City, MN Summary
Cost of living in Lake City 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 Lake City 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 Lake City is 101, with 100 being the average.
The cost of living index in Lake City is 1.0x higher than the national average.
Lake City ranks as the #51 cheapest in Minnesota out of 148.
Lake City ranks as the #2,735 cheapest out of 6,489 in the US.
The median home value in Lake City is $315,215.
The median income in Lake City is $76,125.
Table Of Contents
Lake City's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake City, MN?
According to the most recent data on the cost of living, Lake City has an overall cost of living index of 101, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Lake City has a cost of living index that's 1.0x higher than Minnesota's index of 97.
The standard of living in Lake City ranks as #51 most affordable out of the 148 places we measured in Minnesota. By definition, that implies Lake City ranks as the #97 most expensive place in the North Star State.
For more reading on life in Lake City, check out:
In Minnesota
In America
Lake City Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Lake City. Here is how it fairs on each of the criteria:
The Services index in Lake City is 101.
The Groceries index in Lake City is 95.
The Health index in Lake City is 110.
The Housing index in Lake City is 97.
The Transportation index in Lake City is 98.
The Utilities index in Lake City is 102.
| Living Expense | Lake City | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 101 | 97 | 100 | |
| Services | 101 | 101 | 100 | |
| Groceries | 95 | 99 | 100 | |
| Health | 110 | 110 | 100 | |
| Housing | 97 | 100 | 100 | |
| Transportation | 98 | 95 | 100 | |
| Utilities | 102 | 94 | 100 | |
Lake City, 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 Lake City is $315,215.
The Median Rent in Lake City is $1,022.
The Median Income in Lake City is $76,125.
The Home Value To Income in Lake City is 4.1x.
The Rent To Monthly Income in Lake City is 0.16x.
Median Home Value
Median Rent
Median Income
Lake City, MN Costs By Category
Detailed Lake City Services Costs Vs. Minnesota
Detailed Lake City Groceries Costs Vs. Minnesota
Detailed Lake City Health Costs Vs. Minnesota
Detailed Lake City Transportation Costs Vs. Minnesota
Detailed Lake City Utilities Costs Vs. Minnesota
Lake City SnackAbility
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