What is the cost of living in Shakopee, MN?
According to the most recent data on the cost of living, Shakopee has an overall cost of living index of 114, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Shakopee has a cost of living index that's 1.1x higher than Minnesota's index of 101.
The standard of living in Shakopee ranks as #105 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Shakopee ranks as the #46 most expensive place in the North Star State.
For more reading on life in Shakopee, check out:
Shakopee Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Shakopee. Here is how it fares on each of the criteria:
The Services index in Shakopee is 99.
The Groceries index in Shakopee is 99.
The Health index in Shakopee is 148.
The Housing index in Shakopee is 98.
The Transportation index in Shakopee is 102.
The Utilities index in Shakopee is 99.
| Living Expense | Shakopee | Minnesota | National Average |
|---|---|---|---|
| Overall | 114 | 101 | 100 |
| Services | 99 | 101 | 100 |
| Groceries | 99 | 99 | 100 |
| Health | 148 | 99 | 100 |
| Housing | 98 | 101 | 100 |
| Transportation | 102 | 103 | 100 |
| Utilities | 99 | 101 | 100 |
Shakopee 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 Shakopee Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Shakopee, 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 Shakopee is $403,598.
The Median Rent in Shakopee is $1,531.
The Median Income in Shakopee is $107,223.
The Home Value To Income in Shakopee is 3.8x.
The Rent To Monthly Income in Shakopee is 0.17x.
Shakopee, MN Costs By Category
Detailed Shakopee Services costs vs. Minnesota
Detailed Shakopee Groceries costs vs. Minnesota
Detailed Shakopee Health costs vs. Minnesota
Detailed Shakopee Transportation costs vs. Minnesota
Shakopee SnackAbility
Cost Of Living In Cities Around Shakopee
The cost of living varies in the cities and towns around Shakopee. 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, 1.0x Shakopee.
Plymouth, MN has a cost of living index of 124, 1.1x Shakopee.
Lakeville, MN has a cost of living index of 122, 1.1x Shakopee.
| City | Population | Cost Of Living | Vs. Shakopee |
|---|---|---|---|
| Bloomington, MN | 88,665 | 112 | 1.0x |
| Plymouth, MN | 79,220 | 124 | 1.1x |
| Lakeville, MN | 74,354 | 122 | 1.1x |
| Burnsville, MN | 64,463 | 114 | 1.0x |
| Eden Prairie, MN | 63,051 | 128 | 1.1x |
| Apple Valley, MN | 55,679 | 114 | 1.0x |
| Edina, MN | 53,262 | 141 | 1.2x |
| Minnetonka, MN | 53,064 | 127 | 1.1x |
| Savage, MN | 32,889 | 121 | 1.1x |
| Chaska, MN | 28,706 | 114 | 1.0x |
