Spring Lake Park, MN Cost Of Living
Cost Of Living In Spring Lake Park, MN Summary
Cost of living in Spring Lake Park 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 Spring Lake Park 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 Spring Lake Park is 102, with 100 being the average.
The cost of living index in Spring Lake Park is 1.0x higher than the national average.
Spring Lake Park ranks as the #58 cheapest in Minnesota out of 148.
Spring Lake Park ranks as the #2,846 cheapest out of 6,489 in the US.
The median home value in Spring Lake Park is $315,143.
The median income in Spring Lake Park is $77,112.
Table Of Contents
Spring Lake Park's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Spring Lake Park, MN?
According to the most recent data on the cost of living, Spring Lake Park has an overall cost of living index of 102, which is 1.0x higher than the national index of 100.
Compared to Minnesota, Spring Lake Park has a cost of living index that's 1.1x higher than Minnesota's index of 97.
The standard of living in Spring Lake Park ranks as #58 most affordable out of the 148 places we measured in Minnesota. By definition, that implies Spring Lake Park ranks as the #90 most expensive place in the North Star State.
For more reading on life in Spring Lake Park, check out:
In Minnesota
In America
Spring Lake Park Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Spring Lake Park. Here is how it fairs on each of the criteria:
The Services index in Spring Lake Park is 96.
The Groceries index in Spring Lake Park is 99.
The Health index in Spring Lake Park is 99.
The Housing index in Spring Lake Park is 109.
The Transportation index in Spring Lake Park is 97.
The Utilities index in Spring Lake Park is 94.
| Living Expense | Spring Lake Park | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 102 | 97 | 100 | |
| Services | 96 | 101 | 100 | |
| Groceries | 99 | 99 | 100 | |
| Health | 99 | 110 | 100 | |
| Housing | 109 | 100 | 100 | |
| Transportation | 97 | 95 | 100 | |
| Utilities | 94 | 94 | 100 | |
Spring Lake Park, 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 Spring Lake Park is $315,143.
The Median Rent in Spring Lake Park is $1,375.
The Median Income in Spring Lake Park is $77,112.
The Home Value To Income in Spring Lake Park is 4.1x.
The Rent To Monthly Income in Spring Lake Park is 0.21x.
| Statistic | Spring Lake Park | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $315,143 | $344,484 | $303,400 |
| Median Rent | $1,375 | $1,235 | $1,348 |
| Median Income | $77,112 | $87,556 | $78,538 |
| Home Value To Income | 4.1x | 3.9x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
Spring Lake Park, MN Costs By Category
Detailed Spring Lake Park Services Costs Vs. Minnesota
| Item | Spring Lake Park | 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 Spring Lake Park Groceries Costs Vs. Minnesota
| Item | Spring Lake Park | 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 Spring Lake Park Health Costs Vs. Minnesota
| Item | Spring Lake Park | Minnesota |
|---|---|---|
| Optometrist | $112.72 | $125.68 |
| Doctor | $164.15 | $135.78 |
| Dentist | $95.01 | $113.29 |
Detailed Spring Lake Park Transportation Costs Vs. Minnesota
| Item | Spring Lake Park | Minnesota |
|---|---|---|
| Gasoline | $3.32 | $3.46 |
| Tire Balancing | $59.91 | $59.92 |
Detailed Spring Lake Park Utilities Costs Vs. Minnesota
| Item | Spring Lake Park | Minnesota |
|---|---|---|
| All Electricity | $180.11 | $193.99 |
| Phone | $187.59 | $192.25 |
Spring Lake Park SnackAbility
/10
Cost Of Living In Cities Around Spring Lake Park
The cost of living varies in the cities and towns around Spring Lake Park. Here's a quick look at the cost of living in the most populous nearby places:
Brooklyn Park, MN has a cost of living index of 103, 1.0x Spring Lake Park.
Plymouth, MN has a cost of living index of 124, 1.2x Spring Lake Park.
Blaine, MN has a cost of living index of 110, 1.1x Spring Lake Park.
| City | Population | Cost Of Living | Vs. Spring Lake Park |
|---|---|---|---|
| Brooklyn Park, MN | 84,349 | 103 | 1.0x |
| Plymouth, MN | 79,526 | 124 | 1.2x |
| Blaine, MN | 71,261 | 110 | 1.1x |
| Maple Grove, MN | 70,539 | 118 | 1.2x |
| Minnetonka, MN | 53,256 | 120 | 1.2x |
| Edina, MN | 53,125 | 139 | 1.4x |
| Brooklyn Center, MN | 32,811 | 101 | 1.0x |
| Fridley, MN | 29,944 | 99 | 1.0x |
| Shoreview, MN | 26,724 | 111 | 1.1x |
| Champlin, MN | 23,450 | 110 | 1.1x |
