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 100, which is 1.0x lower than the national index of 100.
Compared to Minnesota, Lake City has a cost of living index that's 1.0x lower than Minnesota's index of 101.
The standard of living in Lake City ranks as #44 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Lake City ranks as the #107 most expensive place in the North Star State.
For more reading on life in Lake City, check out:
Lake City Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Lake City. Here is how it fares on each of the criteria:
The Services index in Lake City is 101.
The Groceries index in Lake City is 99.
The Health index in Lake City is 95.
The Housing index in Lake City is 104.
The Transportation index in Lake City is 108.
The Utilities index in Lake City is 94.
| Living Expense | Lake City | Minnesota | National Average |
|---|---|---|---|
| Overall | 100 | 101 | 100 |
| Services | 101 | 101 | 100 |
| Groceries | 99 | 99 | 100 |
| Health | 95 | 99 | 100 |
| Housing | 104 | 101 | 100 |
| Transportation | 108 | 103 | 100 |
| Utilities | 94 | 101 | 100 |
Lake City Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in Lake City Get matched →Source: Cost-of-living index 2026, normalized to US average = 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 2020-2024. The key points are:
The Median Home Value in Lake City is $315,643.
The Median Rent in Lake City is $871.
The Median Income in Lake City is $72,244.
The Home Value To Income in Lake City is 4.4x.
The Rent To Monthly Income in Lake City is 0.14x.
