Cost of living in Montevideo 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 Montevideo 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 Montevideo is 92, with 100 being the average.
The cost of living index in Montevideo is 0.9x lower than the national average.
Montevideo ranks as the #18 cheapest in Minnesota out of 147.
Montevideo ranks as the #1,974 cheapest out of 6,412 in the US.
The median home value in Montevideo is $103,100.
The median income in Montevideo is $53,410.
According to the most recent data on the cost of living, Montevideo has an overall cost of living index of 92, which is 0.9x lower than the national index of 100.
Compared to Minnesota, Montevideo has a cost of living index that's 1.0x lower than Minnesota's index of 95.
The standard of living in Montevideo ranks as #18 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Montevideo ranks as the #129 most expensive place in the North Star State.
For more reading on life in Montevideo, check out:
Six factors go into calculating the cost of living index in Montevideo. Here is how it fairs on each of the criteria:
The Services index in Montevideo is 110.
The Groceries index in Montevideo is 112.
The Health index in Montevideo is 118.
The Housing index in Montevideo is 51.
The Transportation index in Montevideo is 100.
The Utilities index in Montevideo is 101.
|Living Expense||Montevideo||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 Montevideo is $103,100.
The Median Rent in Montevideo is $732.
The Median Income in Montevideo is $53,410.
The Home Value To Income in Montevideo is 1.9x.
The Rent To Monthly Income in Montevideo is 0.16x.
|Median Home Value||$103,100||$250,200||$244,900|
|Home Value To Income||1.9x||3.2x||3.5x|
|Rent To Monthly Income||0.16x||0.17x||0.2x|
The cost of living varies in the cities and towns around Montevideo. Here's a quick look at the cost of living in the most populous nearby places:
Willmar, MN has a cost of living index of 95, 1.0x Montevideo.
Marshall, MN has a cost of living index of 89, 1.0x Montevideo.
Morris, MN has a cost of living index of 99, 1.1x Montevideo.