What is the cost of living in Prior Lake, MN?
According to the most recent data on the cost of living, Prior Lake has an overall cost of living index of 120, which is 1.2x higher than the national index of 100.
Compared to Minnesota, Prior Lake has a cost of living index that's 1.2x higher than Minnesota's index of 101.
The standard of living in Prior Lake ranks as #128 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Prior Lake ranks as the #23 most expensive place in the North Star State.
For more reading on life in Prior Lake, check out:
Prior Lake Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Prior Lake. Here is how it fares on each of the criteria:
The Services index in Prior Lake is 101.
The Groceries index in Prior Lake is 103.
The Health index in Prior Lake is 164.
The Housing index in Prior Lake is 100.
The Transportation index in Prior Lake is 99.
The Utilities index in Prior Lake is 103.
| Living Expense | Prior Lake | Minnesota | National Average |
|---|---|---|---|
| Overall | 120 | 101 | 100 |
| Services | 101 | 101 | 100 |
| Groceries | 103 | 99 | 100 |
| Health | 164 | 99 | 100 |
| Housing | 100 | 101 | 100 |
| Transportation | 99 | 103 | 100 |
| Utilities | 103 | 101 | 100 |
Prior Lake 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 Prior Lake Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Prior Lake, 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 Prior Lake is $525,577.
The Median Rent in Prior Lake is $1,654.
The Median Income in Prior Lake is $134,255.
The Home Value To Income in Prior Lake is 3.9x.
The Rent To Monthly Income in Prior Lake is 0.15x.
| Statistic | Prior Lake | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $525,577 | $346,667 | $332,700 |
| Median Rent | $1,654 | $1,280 | $1,413 |
| Median Income | $134,255 | $89,062 | $80,734 |
| Home Value To Income | 3.9x | 3.9x | 4.1x |
| Rent To Monthly Income | 0.15x | 0.17x | 0.21x |
Prior Lake, MN Costs By Category
Detailed Prior Lake Services costs vs. Minnesota
| Item | Prior Lake | 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 Prior Lake Groceries costs vs. Minnesota
| Item | Prior Lake | 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 Prior Lake Health costs vs. Minnesota
| Item | Prior Lake | Minnesota |
|---|---|---|
| Optometrist | $112.72 | $125.68 |
| Doctor | $164.15 | $135.78 |
| Dentist | $95.01 | $113.29 |
Detailed Prior Lake Transportation costs vs. Minnesota
| Item | Prior Lake | Minnesota |
|---|---|---|
| Gasoline | $3.32 | $3.46 |
| Tire Balancing | $59.91 | $59.92 |
Detailed Prior Lake Utilities costs vs. Minnesota
| Item | Prior Lake | Minnesota |
|---|---|---|
| All Electricity | $180.11 | $193.99 |
| Phone | $187.59 | $192.25 |
Prior Lake SnackAbility
Cost Of Living In Cities Around Prior Lake
The cost of living varies in the cities and towns around Prior Lake. Here's a quick look at the cost of living in the most populous nearby places:
Bloomington, MN has a cost of living index of 112, 0.9x Prior Lake.
Lakeville, MN has a cost of living index of 122, 1.0x Prior Lake.
Burnsville, MN has a cost of living index of 114, 0.9x Prior Lake.
| City | Population | Cost Of Living | Vs. Prior Lake |
|---|---|---|---|
| Bloomington, MN | 88,665 | 112 | 0.9x |
| Lakeville, MN | 74,354 | 122 | 1.0x |
| Burnsville, MN | 64,463 | 114 | 0.9x |
| Eden Prairie, MN | 63,051 | 128 | 1.1x |
| Apple Valley, MN | 55,679 | 114 | 0.9x |
| Edina, MN | 53,262 | 141 | 1.2x |
| Minnetonka, MN | 53,064 | 127 | 1.1x |
| Shakopee, MN | 46,012 | 114 | 0.9x |
| Savage, MN | 32,889 | 121 | 1.0x |
| Chaska, MN | 28,706 | 114 | 0.9x |
