Minot, ND Cost Of Living
Cost Of Living In Minot, ND Summary
Cost of living in Minot 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 Minot is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Dakota, 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 Minot is 104, with 100 being the average.
The cost of living index in Minot is 1.0x higher than the national average.
Minot ranks as the #9 cheapest in North Dakota out of 13.
Minot ranks as the #3,063 cheapest out of 6,489 in the US.
The median home value in Minot is $271,232.
The median income in Minot is $77,431.
Table Of Contents
Minot's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Minot, ND?
According to the most recent data on the cost of living, Minot has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.
Compared to North Dakota, Minot has a cost of living index that's 1.1x higher than North Dakota's index of 94.
The standard of living in Minot ranks as #9 most affordable out of the 13 places we measured in North Dakota. By definition, that implies Minot ranks as the #4 most expensive place in the Peace Garden State.
For more reading on life in Minot, check out:
In North Dakota
In America
Minot Cost Of Living Vs. North Dakota
Six factors go into calculating the cost of living index in Minot. Here is how it fairs on each of the criteria:
The Services index in Minot is 99.
The Groceries index in Minot is 93.
The Health index in Minot is 114.
The Housing index in Minot is 109.
The Transportation index in Minot is 103.
The Utilities index in Minot is 98.
| Living Expense | Minot | North Dakota | National Average | |
|---|---|---|---|---|
| Overall | 104 | 94 | 100 | |
| Services | 99 | 96 | 100 | |
| Groceries | 93 | 93 | 100 | |
| Health | 114 | 111 | 100 | |
| Housing | 109 | 87 | 100 | |
| Transportation | 103 | 101 | 100 | |
| Utilities | 98 | 100 | 100 | |
Minot, ND Housing Cost Breakdown
Housing swings affordability the most between places in North Dakota, 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 Minot is $271,232.
The Median Rent in Minot is $928.
The Median Income in Minot is $77,431.
The Home Value To Income in Minot is 3.5x.
The Rent To Monthly Income in Minot is 0.14x.
| Statistic | Minot | North Dakota | United States |
|---|---|---|---|
| Median Home Value | $271,232 | $281,608 | $303,400 |
| Median Rent | $928 | $934 | $1,348 |
| Median Income | $77,431 | $75,949 | $78,538 |
| Home Value To Income | 3.5x | 3.7x | 3.9x |
| Rent To Monthly Income | 0.14x | 0.15x | 0.21x |
Median Home Value
Median Rent
Median Income
Minot, ND Costs By Category
Detailed Minot Services Costs Vs. North Dakota
| Item | Minot | North Dakota |
|---|---|---|
| Shampoo | $1.12 | $1.28 |
| Movie | $12.67 | $12.13 |
| Bowling | $7.5 | $18 |
| Haircut | $19.55 | $24.26 |
| Beauty Salon | $47.78 | $45.56 |
Detailed Minot Groceries Costs Vs. North Dakota
| Item | Minot | North Dakota |
|---|---|---|
| Ground Beef | $5.62 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.48 | $4.67 |
| Potatoes | $4.65 | $4.93 |
| Pizza | $12.31 | $12.09 |
| Beer | $10.75 | $10.41 |
| Toothpaste | $3.74 | $3.7 |
Detailed Minot Health Costs Vs. North Dakota
| Item | Minot | North Dakota |
|---|---|---|
| Optometrist | $140.01 | $125.68 |
| Doctor | $166.95 | $135.78 |
| Dentist | $135.25 | $113.29 |
Detailed Minot Transportation Costs Vs. North Dakota
| Item | Minot | North Dakota |
|---|---|---|
| Gasoline | $3.4 | $3.46 |
| Tire Balancing | $71.21 | $59.92 |
Detailed Minot Utilities Costs Vs. North Dakota
| Item | Minot | North Dakota |
|---|---|---|
| All Electricity | $182.72 | $193.99 |
| Phone | $194.52 | $192.25 |
Minot SnackAbility
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