New Prague, MN Cost Of Living
Cost Of Living In New Prague, MN Summary
Cost of living in New Prague 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 New Prague 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 New Prague is 107, with 100 being the average.
The cost of living index in New Prague is 1.1x higher than the national average.
New Prague ranks as the #86 cheapest in Minnesota out of 148.
New Prague ranks as the #3,374 cheapest out of 6,489 in the US.
The median home value in New Prague is $352,122.
The median income in New Prague is $98,424.
Table Of Contents
New Prague's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in New Prague, MN?
According to the most recent data on the cost of living, New Prague has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Minnesota, New Prague has a cost of living index that's 1.1x higher than Minnesota's index of 97.
The standard of living in New Prague ranks as #86 most affordable out of the 148 places we measured in Minnesota. By definition, that implies New Prague ranks as the #62 most expensive place in the North Star State.
For more reading on life in New Prague, check out:
In Minnesota
In America
New Prague Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in New Prague. Here is how it fairs on each of the criteria:
The Services index in New Prague is 93.
The Groceries index in New Prague is 97.
The Health index in New Prague is 102.
The Housing index in New Prague is 131.
The Transportation index in New Prague is 98.
The Utilities index in New Prague is 96.
| Living Expense | New Prague | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 107 | 97 | 100 | |
| Services | 93 | 101 | 100 | |
| Groceries | 97 | 99 | 100 | |
| Health | 102 | 110 | 100 | |
| Housing | 131 | 100 | 100 | |
| Transportation | 98 | 95 | 100 | |
| Utilities | 96 | 94 | 100 | |
New Prague, 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 New Prague is $352,122.
The Median Rent in New Prague is $1,198.
The Median Income in New Prague is $98,424.
The Home Value To Income in New Prague is 3.6x.
The Rent To Monthly Income in New Prague is 0.15x.
| Statistic | New Prague | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $352,122 | $344,484 | $303,400 |
| Median Rent | $1,198 | $1,235 | $1,348 |
| Median Income | $98,424 | $87,556 | $78,538 |
| Home Value To Income | 3.6x | 3.9x | 3.9x |
| Rent To Monthly Income | 0.15x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
New Prague, MN Costs By Category
Detailed New Prague Services Costs Vs. Minnesota
| Item | New Prague | 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 New Prague Groceries Costs Vs. Minnesota
| Item | New Prague | 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 New Prague Health Costs Vs. Minnesota
| Item | New Prague | Minnesota |
|---|---|---|
| Optometrist | $112.72 | $125.68 |
| Doctor | $164.15 | $135.78 |
| Dentist | $95.01 | $113.29 |
Detailed New Prague Transportation Costs Vs. Minnesota
| Item | New Prague | Minnesota |
|---|---|---|
| Gasoline | $3.32 | $3.46 |
| Tire Balancing | $59.91 | $59.92 |
Detailed New Prague Utilities Costs Vs. Minnesota
| Item | New Prague | Minnesota |
|---|---|---|
| All Electricity | $180.11 | $193.99 |
| Phone | $187.59 | $192.25 |
New Prague SnackAbility
/10
Cost Of Living In Cities Around New Prague
The cost of living varies in the cities and towns around New Prague. Here's a quick look at the cost of living in the most populous nearby places:
Lakeville, MN has a cost of living index of 119, 1.1x New Prague.
Shakopee, MN has a cost of living index of 111, 1.0x New Prague.
Savage, MN has a cost of living index of 118, 1.1x New Prague.
| City | Population | Cost Of Living | Vs. New Prague |
|---|---|---|---|
| Lakeville, MN | 72,480 | 119 | 1.1x |
| Shakopee, MN | 45,002 | 111 | 1.0x |
| Savage, MN | 32,706 | 118 | 1.1x |
| Chaska, MN | 28,146 | 112 | 1.0x |
| Prior Lake, MN | 27,832 | 114 | 1.1x |
| Belle Plaine, MN | 7,401 | 105 | 1.0x |
| Jordan, MN | 6,704 | 108 | 1.0x |
| Carver, MN | 5,935 | 118 | 1.1x |
