Forest Lake, MN Cost Of Living
Cost Of Living In Forest Lake, MN Summary
Cost of living in Forest Lake 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 Forest Lake 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 Forest Lake is 110, with 100 being the average.
The cost of living index in Forest Lake is 1.1x higher than the national average.
Forest Lake ranks as the #103 cheapest in Minnesota out of 147.
Forest Lake ranks as the #4,128 cheapest out of 6,412 in the US.
The median home value in Forest Lake is $299,800.
The median income in Forest Lake is $87,753.
Table Of Contents
Forest Lake's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Forest Lake, MN?
According to the most recent data on the cost of living, Forest Lake has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Forest Lake has a cost of living index that's 1.2x higher than Minnesota's index of 95.
The standard of living in Forest Lake ranks as #103 most affordable out of the 147 places we measured in Minnesota. By definition, that implies Forest Lake ranks as the #44 most expensive place in the North Star State.
For more reading on life in Forest Lake, check out:
- Living In Forest Lake
- Forest Lake Crime Report
- Search Homes For Sale In Forest Lake, MN
In Minnesota
In America
Forest Lake Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Forest Lake. Here is how it fairs on each of the criteria:
The Services index in Forest Lake is 112.
The Groceries index in Forest Lake is 103.
The Health index in Forest Lake is 104.
The Housing index in Forest Lake is 118.
The Transportation index in Forest Lake is 103.
The Utilities index in Forest Lake is 97.
| Living Expense | Forest Lake | Minnesota | National Average | |
|---|---|---|---|---|
| Overall | 110 | 95 | 100 | |
| Services | 112 | 101 | 100 | |
| Groceries | 103 | 98 | 100 | |
| Health | 104 | 111 | 100 | |
| Housing | 118 | 83 | 100 | |
| Transportation | 103 | 98 | 100 | |
| Utilities | 97 | 95 | 100 | |
Forest 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 2017-2021. The key points are:
The Median Home Value in Forest Lake is $299,800.
The Median Rent in Forest Lake is $1,174.
The Median Income in Forest Lake is $87,753.
The Home Value To Income in Forest Lake is 3.4x.
The Rent To Monthly Income in Forest Lake is 0.16x.
| Statistic | Forest Lake | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $299,800 | $250,200 | $244,900 |
| Median Rent | $1,174 | $1,081 | $1,163 |
| Median Income | $87,753 | $77,706 | $69,021 |
| Home Value To Income | 3.4x | 3.2x | 3.5x |
| Rent To Monthly Income | 0.16x | 0.17x | 0.2x |
Median Home Value
Median Rent
Median Income
Forest Lake, MN Costs By Category
Detailed Forest Lake Services Costs Vs. Minnesota
| Item | Forest Lake | Minnesota |
|---|---|---|
| Shampoo | $1.11 | $1.06 |
| Movie | $10.55 | $10.68 |
| Bowling | $25.79 | $14.67 |
| Haircut | $25.21 | $18.62 |
| Beauty Salon | $35.12 | $39.05 |
Detailed Forest Lake Groceries Costs Vs. Minnesota
| Item | Forest Lake | Minnesota |
|---|---|---|
| Ground Beef | $4.45 | $4.22 |
| Fried Chicken | $2.2 | $1.39 |
| Milk | $2.59 | $2.05 |
| Potatoes | $3.33 | $3.29 |
| Pizza | $12.95 | $10.62 |
| Beer | $9.01 | $9.38 |
| Toothpaste | $3.37 | $2.34 |
Detailed Forest Lake Health Costs Vs. Minnesota
| Item | Forest Lake | Minnesota |
|---|---|---|
| Optometrist | $90.27 | $108.57 |
| Doctor | $148.38 | $116.17 |
| Dentist | $86.91 | $99.13 |
Detailed Forest Lake Transportation Costs Vs. Minnesota
| Item | Forest Lake | Minnesota |
|---|---|---|
| Gasoline | $2.06 | $2.22 |
| Tire Balancing | $59.83 | $50.07 |
Detailed Forest Lake Utilities Costs Vs. Minnesota
| Item | Forest Lake | Minnesota |
|---|---|---|
| All Electricity | $156.09 | $167.67 |
| Phone | $182.1 | $175.64 |
Forest Lake SnackAbility
/10
Cost Of Living In Cities Around Forest Lake
The cost of living varies in the cities and towns around Forest Lake. Here's a quick look at the cost of living in the most populous nearby places:
Roseville, MN has a cost of living index of 107, 1.0x Forest Lake.
Andover, MN has a cost of living index of 114, 1.0x Forest Lake.
Shoreview, MN has a cost of living index of 110, 1.0x Forest Lake.
| City | Population | Cost Of Living | Vs. Forest Lake |
|---|---|---|---|
| Roseville, MN | 36,119 | 107 | 1.0x |
| Andover, MN | 32,471 | 114 | 1.0x |
| Shoreview, MN | 26,871 | 110 | 1.0x |
| Lino Lakes, MN | 21,180 | 114 | 1.0x |
| Ham Lake, MN | 16,389 | 114 | 1.0x |
| Hugo, MN | 15,541 | 112 | 1.0x |
| Vadnais Heights, MN | 12,931 | 106 | 1.0x |
| Lake Elmo, MN | 11,237 | 125 | 1.1x |
| Arden Hills, MN | 9,868 | 120 | 1.1x |
| Mahtomedi, MN | 8,041 | 118 | 1.1x |
