Cost of living in Mound 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 Mound 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 Mound is 110, with 100 being the average.
The cost of living index in Mound is 1.1x higher than the national average.
Mound ranks as the #103 cheapest in Minnesota out of 147.
Mound ranks as the #4,128 cheapest out of 6,412 in the US.
The median home value in Mound is $279,300.
The median income in Mound is $80,583.
According to the most recent data on the cost of living, Mound has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Mound has a cost of living index that's 1.2x higher than Minnesota's index of 95.
The standard of living in Mound ranks as #103 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Mound ranks as the #44 most expensive place in the North Star State.
For more reading on life in Mound, check out:
Six factors go into calculating the cost of living index in Mound. Here is how it fairs on each of the criteria:
The Services index in Mound is 112.
The Groceries index in Mound is 104.
The Health index in Mound is 102.
The Housing index in Mound is 113.
The Transportation index in Mound is 99.
The Utilities index in Mound is 97.
|Living Expense||Mound||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 Mound is $279,300.
The Median Rent in Mound is $877.
The Median Income in Mound is $80,583.
The Home Value To Income in Mound is 3.5x.
The Rent To Monthly Income in Mound is 0.13x.
|Median Home Value||$279,300||$250,200||$244,900|
|Home Value To Income||3.5x||3.2x||3.5x|
|Rent To Monthly Income||0.13x||0.17x||0.2x|
The cost of living varies in the cities and towns around Mound. Here's a quick look at the cost of living in the most populous nearby places:
Plymouth, MN has a cost of living index of 122, 1.1x Mound.
Maple Grove, MN has a cost of living index of 117, 1.1x Mound.
Eden Prairie, MN has a cost of living index of 121, 1.1x Mound.
|City||Population||Cost Of Living||Vs. Mound|
|Maple Grove, MN||69,900||117||1.1x|
|Eden Prairie, MN||64,048||121||1.1x|
|Golden Valley, MN||22,247||116||1.1x|